Oman’s National Gas Company secures Shell’s LPG assets and business in West Malaysia National Gas Company SAOG (National Gas), one of the largest LPG companies in the Middle East, today signed a Letter of Intent (LOI) with Shell Malaysia Trading Sdn Bhd to purchase the latter’s LPG assets and business in West Malaysia. National Gas’ entry into Malaysia was done in partnership with Wan Zulkifle Wan Yusoff, a senior LPG industry professional.
“This LPG operation is an excellent strategic business investment for us particularly looking at its healthy profits and existing customer base, and Shell’s high quality operating standards. We expect the acquisition to significantly contribute to National Gas’ consolidated profits in the coming years. Moreover, the foray into the Malaysian market is in line with our strategic plans to focus on the high growth South East Asian LPG market,” said Goutam Sen, Chief Executive Officer of National Gas Company SAOG.
Pursuant to the LOI signing, the Sale and Purchase Agreement and other ancillary agreements are expected to be signed in the near future once National Gas has established the required legal entities to do so.