Clean Energy Fuels (CLNE) Reveals N. America LNG Fueling Station Network Coming Soon

Clean Energy Fuels (CLNE) revealed its route plan for the first phase of what will be 150 new LNG fueling stations across North America.   The plan is to be up and running over the course of the next couple years with 70 stations completed across 33 states by the end of this year.  Whether you’re talking about electric or LNG vehicles, infrastructure is critical so this is good news not only for CLNE, but for the entire LNG industry.  The 2nd largest gas producer Chesapeake Energy (CHK) has invested $150 in the network along with another $300 million from international investors.

Many of the LNG fueling stations will be co-located at Pilot-Flying J Travel Centers which is the nation’s largest truck stop operator across 47 states.  CLNE inked a deal with Pilot J back in October 2010.  At the time CEO Andrew Littlefair said, “Pilot Flying J is the clear leader in the truck stop and travel center industry. They have the best team and the best stations, and we are eager to begin our partnership with them. This is the critical link for Clean Energy to be able to roll out natural gas truck fueling services across the nation.”  It appears the partnership is finally coming to fruition.

Shares of CLNE have been in a nice uptrend, surging 50% off the October low.  Today’s news is pushing the stock above resistance of the 200 day moving average.  I’m lukewarm on shares of CLNE here.  The stock has had a big run and around big resistance, so I’d be be patient and see how the company reports in March.  Longer term, the future appears bright for CLNE and this news confirms it. 

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