GE Capital Canada Signs Agreement With Shell to Boost LNG Use in Trucking
GE Capital Canada has signed an agreement with Shell Canada Products to facilitate the trucking industry’s adoption of liquefied natural gas in that country.
Under the agreement, announced May 28, GE Capital and Shell will work to reduce monthly payments for trucking fleets that lease natural gas vehicles.
The agreement covers equipment that will purchase fuel from Shell’s facilities. Specifically, fleet owners can sign natural-gas fueling contracts with Shell and, separately, secure leases for LNG vehicles with GE Capital, which has been providing wholesale and retail financing to Canada’s commercial trucking sector for 35 years.
“Through this agreement, we’re giving over-the-road trucking companies the financial incentive to make the shift from diesel to natural gas,” said François Nantel, leader of GE Capital Canada’s transportation business.
“Working with Shell will help address truck operators’ concerns regarding the trucks’ value and incremental capital investments and allow them to access the benefits of LNG vehicles from day one,” Nantel said in a statement.
