Chesapeake Energy Corporation (NYSE:CHK), the second largest producer of natural gas in the United States, abolished its 7-person natural gas team as the company continues to restructure its business operations.
Chesapeake’s natural gas vehicle team
The energy company is one of the leading advocates for compressed natural gas (CNG) powered vehicles. Chesapeake Energy Corporation (NYSE:CHK)’s natural gas vehicle team was responsible for carrying out its initiative in disseminating information regarding the benefits of CNG, including the reduction of pollution, and lower costs for consumers.
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According to a report from the Oklahoman, the management of the second largest natural gas producer declined to provide details regarding the elimination of its natural gas vehicle team.
Last month, Robert Douglas Lawler, chief executive officer of Chesapeake Energy Corporation started re-organizing the top management of the company. He laid off four senior executives to improve the company’s competitiveness.
Advocates for the natural gas vehicle program stated that Chesapeake Energy Corporation (NYSE:CHK)’s move has little impact on their initiative.
Chesapeake helped expand the natural gas vehicle market
According to Rich Kolodziej, president of Natural Gas Vehicles for America, the second largest natural gas producer played a significant role in expanding the natural gas vehicle market, but he emphasized that other companies and organization took part in the initiative.
Based on the website of Chesapeake Energy Corporation (NYSE:CHK), it operates a fleet of specialty vehicles powered by CNG, and travels around the country spreading the benefits of using the fuel.
In October of last year, Chesapeake Energy Corporation (NYSE:CHK)’s subsidiary, Peake Fuel Solutions, launched the CNG in a Box system, an alternative fueling system that allows fleet operators to fuel up their natural gas vehicles (NGVs) in a cheaper, faster and easier way.
Natural Gas Alliance wants to expand demand
Dan Whitten, spokesperson for Natural Gas Alliance, said the organization’s priority is to expand the demand for natural gas, and to engage in dialogues with the management of utility companies, manufacturers, and the transportation sector and encourage them to increase the use of natural gas.
The plan of Chesapeake Energy Corporation (NYSE:CHK) regarding its natural gas vehicle advocacy program remains unknown, and many are curious about the future of its website: CNGNow.com, which provides information regarding the developments in CNG, including the map of available fueling stations across the United States.
American Gas Association, America’s Natural Gas Alliance (ANGA) and the Pickens Plan are some of Chesapeake’s partners in its CNG vehicle advocacy .