Gulf Oil and Gas accountACCOUNT

Osaka Gas & Japan Bank for International Cooperation Invest in Asian LNG Expansion

Source: 7/22/2019, Location: Asia

AGP International Holdings (AG&P) a Singapore-based firm that recently got gas distribution license for 12 cities in India, has received a major equity investment from two Japanese institutions Osaka Gas Co and the Japan Bank for International Cooperation (JBIC), who have invested in a minority stake in AG&P.

This capital will be used to execute AG&Ps multiple LNG initiatives worldwide, including the development and roll-out of AG&Ps City Gas Distribution business in India, where AG&P has won long-term, exclusive concessions to connect millions of people to compressed natural gas (CNG) for their vehicles and piped natural gas (PNG) directly into their homes across South India and Rajasthan.

AG&P will also use the funds for the roll out of small- and medium-scale LNG import terminals, such as AG&Ps pending terminals in Karaikal, India and elsewhere and to bring LNG applications and logistics, such as LNG delivery to end-customers by different transportation options and to build additional intellectual property.

We are humbled and privileged by the trust that both Osaka Gas and JBIC have placed in AG&P. These are amazing institutions that possess tremendous expertise and experience in their respective fields. We have a great responsibility to work very hard for them and our other shareholders to continue to grow AG&Ps unique business model that captures a large portion of the LNG value chain after the molecule has been shipped, Dr Jose P. Leviste Jr, Chairman AG&P, said.

Osaka Gas, the 114-year old, vertically integrated energy utility in Japan with revenues of $12 billion, is one of the worlds foremost gas utilities, supplying natural gas to ~5.5 million households and operating over 60,000km of pipeline, in addition to a wide-range of gas, power and renewable assets around the world, including in the US, Europe and Southeast Asia. Its investment in AG&P marks the next step in a long-term relationship where both parties have worked together to develop LNG infrastructure projects in South Asia, Southeast Asia and the Americas, among others.

Osaka Gas has known AG&P since 2014. Since that time, we have come to admire AG&Ps unique ability to disrupt the natural gas value chain in areas such as city gas distribution, LNG import terminals, LNG bunkering, LNG engineering and advanced manufacturing. We strongly believe that this investment in AG&P will provide Osaka Gas with a valuable asset to create and develop new markets for Osaka Gas. AG&Ps single-minded focus in developing solutions with the end-customer in mind has been inspirational to our team, said Mr. Katz Sato, Head of South and East Asia Business Development for Osaka Gas.

In addition to providing growth capital, Osaka Gas will also work with AG&P in other areas, including technical support, such as providing technical collaboration for AG&Ps major city gas initiatives in India where AG&P is commencing its build-out of 12 concessions that cover many millions of people across a wide swathe of South India and Rajasthan.

LNG Processing News in India >>

Russia >>  2/17/2020 - Gazprom Neft is expanding its production and sale of MARPOL-compliant environmentally-friendly marine fuels the companys Omsk Refinery having been ...
India >>  2/5/2020 - Rosneft Oil Company and Indian Oil Corporation Limited (IOCL) signed a contract to supply up to 2 million tonnes of oil to India via the port of Novor...

Related Categories: Deodorization system  Gas dehydration  Gas sweetening  Gas Treating  General  GTL Processing  LNG Processing  LPG Domestic use  LPG Odorless  Packing  Phase Separation  Scrubbers 

Related Articles: Gas dehydration  Gas sweetening  Gas Treating  General  GTL Processing  LNG Processing  LPG Domestic use  LPG Odorless  Packing  Phase Separation  Scrubbers 

India Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |

More News

Related Links

Gulf Oil and Gas
Copyright 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.