AG&P announces major investment in GAS Entec

Atlantic, Gulf and Pacific Co. (AG&P) has announced a major investment in GAS Entec – an engineering and design firm based in Korea, dedicated to both small and mid scale LNG applications.

Together, the companies offer onshore and floating products for both the distribution and use of LNG, including storage, regasification, fuel bunkering, LNG-fuelled power solutions, next-generation mooring structures and cold storage applications.

The Chairman of AG&P, Jose P. Leviste (Jr.), said: “The dramatically lower cost of LNG, coupled with the advent of new, affordable technologies such as those developed by GAS Entec have fostered a revolution in LNG applications. No longer is LNG-fuelled power the exclusive domain of the largest utilities. It is also available to a generation of innovative developers, power companies, ship owners, fishing fleets and others in a way that LNG has not been before. We are seeing the democratisation of LNG. Therefore, this equity partnership between AG&P and GAS Entec will contribute strongly to pushing the boundaries of this new, revolutionary industry.

“Built in AG&P’s modern manufacturing facilities or locally at shipyards throughout the world, the standardised and tailored products that AG&P and GAS Entec develop are available quickly and affordably. We are very excited to bring together AG&P’s construction, operations and maintenance expertise with the experience and great brain trust that exists within GAS Entec.”

The CEO of GAS Entec, Kwak Chong-Ho, added: “We are privileged to join forces with AG&P. Together, we will deliver the full design, engineering, construction and assembly, including the integration of sub-components such as cargo handling and control systems for various small and mid scale LNG vessels. Operating as an integrated, one-stop-shop, we will bridge the critical gap in LNG distribution and its applications globally. We remain an engineering company that can work with any customer, but the partnership with AG&P allows certainty, speed and commercially reasonable terms for our customers.”

The President of AG&P, Albert Altura, said: “With GAS Entec, AG&P has built a strong practice focused on the use of LNG for power, fuel bunkering and industrial applications. There is an immediate demand for these solutions ranging from AG&P’s home market of the Philippines and neighbouring Indonesia, to North America, Europe and South Asia where companies are looking to distribute LNG to new applications on coasts, up rivers and inland. AG&P and GAS Entec can design and build out virtually all aspects of small and mid scale LNG distribution and use.”

Edited from press release by David Rowlands

Read the article online at: https://www.lngindustry.com/liquefaction/22082016/agp-announces-major-investment-in-gas-entec-2932/