Chesapeake to invest $1 billion to stimulate natural gas demand

It was recently reported that Chesapeake Energy plans to invest $1 billion in natural gas technologies over the next 10 years. Much of this investment will utilize a new, quasi-venture capital fund called Chesapeake NG Ventures Corp., which will be used to provide funding for new companies and technologies working to stimulate the demand for natural gas. If successful, the new venture could drive the average natural gas price to $6/MCF. Among the first investments to be made by the new fund will be $150 million to Clean Energy Fuels Corp., a company founded by T. Boone Pickens.

National, Ohio