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Tokyo Gas acquires equity interest in PVGas D

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LNG Industry,

Tokyo Gas Asia Pte Ltd has announced that it has acquired a 24.9% equity interest in PetroVietnam Low Pressure Gas Distribution Joint Stock Co. (PVGas D).

Along with the equity interest acquisition, Tokyo Gas Asia – a wholly-owned subsidiary of Tokyo Gas Co. Ltd – has agreed upon a strategic alliance with PVGas D. Based on this alliance, Tokyo Gas Group will reportedly utilise its technologies and expertise in areas such as demand development, as well as introduction of energy-saving technologies, to improve PVGas D’s business value.

In March 2012, both PV Gas and Tokyo Gas signed a memorandum of understanding (MoU) for cooperation in the development of Vietnam’s LNG value chain. Ever since this MoU was signed, both parties have been holding discussions on the specifics of the cooperation. The acquisition of the equity interest in PVGas D is the second cooperation under the MoU followed by the establishment of LNG Vietnam JSC.

Tokyo Gas Group will continue using its technologies and expertise in total energy businesses on behalf of customers operating in Southeast Asia and North America, helping them with energy solutions, while also participating in the development of local infrastructure. In addition to this, the group is also looking to develop the value chain in each region, including through partnerships with local energy companies.

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