GE Capital, Shell Partner for Natural Gas Truck Leasing
MONTREAL- One company in the financial services arena and another in the energy business have teamed up to facilitate the trucking industry's adoption in Canada of liquefied natural gas (LNG) powered trucks.Under an agreement, GE Capital Canada and Shell Canada Products will work together to reduce monthly payments for truck fleets that lease natural gas vehicles (NGVs). GE Capital has been providing wholesale and retail financing to the country's commercial trucking sector for 35 years. Specifically, fleets owners can sign natural gas fueling contracts with Shell and, separately, secure leases for LNG vehicles with GE Capital. The agreement covers equipment that will purchase fuel from Shell's facilities.In and interview with Today's Trucking, Veronique Hache, strategic initiative leader, natural gas, with GE Capital, said the company is offering the same service for natural gas powered trucks that it has for diesel powered ones for many years, but this new program is way to offset the higher costs of the alternatively fueled equipment.