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Press Release Source: Land Star Inc.


Hubei Chuguan (LDSR) in Business Talks with Korea
Monday December 22, 8:00 am ET


BEIJING, Dec. 22 /PRNewswire-FirstCall/ - Land Star Inc. (Welcome To Land Star Corporation - Oil / Gas Storage & Transportation Integration) Landstar Chairman Mr. Li Congtang recently met with Mr. Ahn Yeon Soon, the Environment Counsellor of the Embassy of the Republic of Korea, regarding Korea's commitment to nationwide oil and gas vapour recovery program.
The officials discussed environmental issues related to the oil and gas industry, and in particular, Chuguan's oil & gas recovery solution. Landstar briefed the Korean official on the current status of oil & gas recovery projects in China and the three compulsory national standards in place regarding the storage and transfer of petroleum products.

Mr. Ahn Yeon Soon explained the urgent need to address oil & gas recovery initiatives in Korea. Similarly to China, Korea suffers from serious air pollution problems. During the period of the 2002 World Cup Football Games, all gas stations and oil depots in Korea were closed during daylight hours in order to minimize the pollution problems caused by fuel vapour evaporation at retail gas stations.

He went on to explain that Korea lacked oil & gas recovery technology as recently as last year, with the exception of some licensed technologies from other countries. The Korean government has made the introduction of this technology a major priority, and plans to address the problems in three phases.

The initial phase of oil & gas recovery projects centers on the installation of oil vapour recovery units to be installed in approximately 3000 gas stations throughout the country. The target deadline is to see phase one completed by 2010 starting with 6 major cities including Seoul and Busan.

A key factor working in Chuguan's favour is its experiencing installing gas vapour recovery units in all Sinopec gas stations throughout China. Sinopec is the third largest oil refiner in the world and is ranked # 5 in terms of ethylene capacity and # 3 in terms of number of service stations in the world.