- Osaka, in conjunction with Japan Bank for International Cooperation made the capital investment in AGP.
- A collaboration with AGP will increase the company’s marketing capabilities and engineering skills considerably.
Osaka Gas Ltd., (Osaka Gas), a Japanese gas company, along with JBIC (Japan Bank for International Cooperation), has reportedly invested in Singapore-based AGP International Pte., Ltd., (AGP) for development of a natural gas infrastructure.
Reports cite, Osaka Gas made the investment through its subsidiary – OGS (Osaka Gas Singapore Pte. Ltd.). Apart from the investment, the gas company has also signed a collaboration agreement particular to AGP IH as well as its natural gas based value-chain.
According to reports, AGP group has extended its more than 100-year legacy in engineering and construction to the procurement of Gas Entec Co., Ltd., which designs medium-to-small LNG vessels. The AGP Group boasts of high marketing capabilities and engineering skills in LNG industry and is actively engaged in developing LNG businesses through city gas business and floating LNG platforms to address increasing demand, primarily in India and Southeast Asia.
Meanwhile, Osaka gas is currently active in Thailand, Indonesia and Singapore, scaling up its gas-supply services for its industrial customers and other energy service business. The company also plans to start operating in Vietnam soon.
Through this investment, and the subsequent collaboration, there would be a synergy between AGP Group’s engineering skills and project development knowledge in the LNG business and Osaka’s domestically accumulated knowledge-base in gas pipelines and LNG.
Going forward, the companies would be actively involved in the development of power plants, LNG terminals and LNG supply services to establish a value chain of natural gas in Southeast Asia as well as other nations that are witnessing increasing LNG demand.
The financial terms related to the collaboration agreement or the total capital invested by Osaka Gas have not been unveiled yet.
Source Credits: https://www.businesswire.com/news/home/20190721005041/en/Osaka-Gas-Ltd.-Investments-Conclusion-Collaboration-Agreement