TOKYO GAS CO., LTD. August 3, 2016
Tokyo Gas Co., Ltd. Tokyo Gas Asia Pte. Ltd.
Tokyo Gas Co., Ltd. (President: Michiaki Hirose, "Tokyo Gas") established LNG VIETNAM JSC ("LNG VIETNAM") aiming to conduct business activities such as LNG procurement, LNG sales and LNG receiving terminal construction and operation through its 100% subsidiary Tokyo Gas Asia (Managing Director: Nobuhisa Kobayashi, "TG Asia") together with PetroVietnam Gas JSC (President: Duong Manh Son, "PVGas") and Bitexco Group of Companies (Chairman: Vu Quang Hoi, "Bitexco").
While discussing the establishment of LNG VIETNAM with Bitexco, PVGas has been discussing with Tokyo Gas specific contents of potential collaboration under the "Memorandum of Understanding for the Comprehensive Cooperative Relationship on the Development of LNG value chain in Vietnam" ("MOU") signed between the two parties in March 2012. PVGas, Bitexco, and Tokyo Gas have now agreed to establish LNG VIETNAM.
Vietnam is expected to have an increase in energy demand in connection with strong economic growth. LNG Vietnam will contribute to sustainable economic growth in Vietnam by promoting widespread use of clean, environmentally friendly LNG.
Tokyo Gas Group will take advantage of its technology and know-how regarding LNG value chain development to contribute to energy infrastructure development in South East Asia and North America, and intends to be competitive across the entire LNG value chain in each country such as through the formation of alliances with local energy companies.
Name | LNG VIETNAM Joint Stock Company |
Director | Pham Van Phong |
Establishment | July 2016 |
Headquarter | Ho Chi Minh City, Vietnam |
Charter Capital | 100 billion VND |
Shareholders | PVGas: 51％、Bitexco: 39％、TG Asia: 10％ |
Main Business Domain | LNG procurement, LNG sales, and LNG receiving terminal construction and operation |
Name | PetroVietnam Gas Joint Stock Corporation |
President | Duong Manh Son |
Establishment | September 1990 |
Headquarter | Ho Chi Minh City, Vietnam |
Charter Capital | 19 trillion 139.5 billion VND |
Shareholders | PetroVietnam: 95.76%、Others: 4.24% |
Main Business Domain | Procurement, refinery, storage, transmission, and sales of natural gas, LPG, CNG, and condensate |
Number of Employees | 3,870 |
Name | Bitexco Group of Companies |
Chairman | Vu Quang Hoi |
Establishment | January 1993 |
Headquarter | Hanoi, Vietnam |
Charter Capital | Not disclosed |
Shareholders | Not disclosed |
Main Business Domain | Real estate development, power production, oil & gas |
Number of Employees | Around 3,500 |
Name | Tokyo Gas Asia Pte. Ltd. |
Managing Director | Nobuhisa Kobayashi |
Establishment | December 2014 |
Headquarter | Singapore |
Charter Capital | 42.7 million SGD |
Shareholders | Tokyo Gas: 100% |
Main Business Domain | Regional headquarter of Southeast Asian business of Tokyo Gas |
Number of Employees | 10 |
Tokyo Gas Co. Ltd. published this content on 03 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 03 August 2016 07:50:05 UTC.
Original documenthttp://www.tokyo-gas.co.jp/Press_e/20160803-01e.pdf
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