TOKYO GAS CO., LTD. July 31, 2017
Investment and Strategic Alliance in Vietnam Natural Gas Distribution BusinessTokyo Gas Co., Ltd. Tokyo Gas Asia Pte. Ltd.
Tokyo Gas Asia Pte. Ltd (Managing Director: Nobuhisa Kobayashi, "Tokyo Gas Asia")., a wholly owned subsidiary of Tokyo Gas Co., Ltd. (President: Michiaki Hirose, "Tokyo Gas"), has acquired a 24.9% equity interest in PetroVietnam Low Pressure Gas Distribution Joint Stock Company (Director: Tran Thanh Nam , "PVGas D"), a subsidiary of PetroVietnam Gas Joint Stock Corporation (President: Duong Manh Son, "PV Gas").
Along with the equity interest acquisition, Tokyo Gas Asia and PVGas D have agreed upon a strategic alliance ("SAA"). Based on the SAA, Tokyo Gas Group will utilize its technologies and expertise in such areas as demand development and introduction of energy-saving technologies to enhance PVGas D's business value.
Tokyo Gas and PV Gas back in March 2012 signed a memorandum of understanding for cooperation on the development of the LNG value chain in Vietnam (Comprehensive MOU), and have been in discussions since then on the specifics of the cooperation. The acquisition of the equity interest in PVGas D is the second cooperation under the Comprehensive MOU followed by the establishment of LNG VIETNAM JSC ("LNG VIETNAM").
The Tokyo Gas Group will continue to utilize 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 engaging in local infrastructure development. The Tokyo Gas Group is also taking up the challenge of value chain development in each region, including through partnerships with local energy companies.
【Investment and Alliance Scheme】
Comprehensive MOU
100％
Tokyo Gas
PV Gas
Tokyo Gas Asia
24.9％
SAA
75.4%
50.5％
＜Others＞24.6%
PVGas D
Picture from SAA Signing Ceremony
From left in the back row, Mr. Nam(Vice President of PV Gas), Mr. Nghia(Board of Directors of PV Gas), Mr. Anamizu(Senior Executive Officer of TG), Mr. Chinh(Chairman of PVGas D) From left in the front row, Mr. Nam(President of PVGas D), Mr. Kobayashi(Managing Director of TG Asia)
Company Name | PetroVietnam Low Pressure Gas Distribution Joint Stock Company |
Director | Mr. Tran Thanh Nam |
Established | May 2007 |
Headquarters | Ho Chi Minh City, S.R. Vietnam |
Capital | VND 900 billion |
Shareholders | PVG 50.5%, Tokyo Gas Asia 24.9%, Others 24.6% |
Main Business | Pipeline network development, CNG supply, wholesale for CNG operator |
Employees | 261 |
Additional Information
Company Name | PetroVietnam Gas Joint Stock Corporation |
President and CEO | Mr. Duong Manh Son |
Established | September 1990 |
Headquarters | Ho Chi Minh City, S.R. Vietnam |
Capital | VND 19,140 billion |
Shareholders | Vietnam Oil and Gas Group 95.76%, Others 4.24% |
Main Business | Procurement, refinery, storage, transmission, and sales of natural gas, LPG, CNG, and condensate |
Employees | 3,870 |
Company Name | Tokyo Gas Asia Pte. Ltd. |
President and Managing Director | Mr. Nobuhisa Kobayashi |
Established | December 2014 |
Headquarters | Singapore |
Capital | SGD 124.4 million |
Shareholders | Tokyo Gas 100％ |
Main Business | Business investment and management and the regional headquarter in South East Asia |
Employees | 11 |
Tokyo Gas Co. Ltd. published this content on 31 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 31 July 2017 05:09:09 UTC.
Original documenthttp://www.tokyo-gas.co.jp/Press_e/20170731-01e.pdf
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