Bid & Tender

News

AG&P Int’l Eyes More LNG Projects

AGP International Holdings Pte. Ltd. (AG&P) is working to execute multiple liquefied natural gas (LNG) initiatives globally, including the Philippines, after securing a $100-million equity investment from a Japanese consortium. AG&P said Osaka Gas Co. Ltd., through affiliate Osaka Gas Singapore Pte. Ltd. (Osaka Gas) and the Japan Bank for International Cooperation (JBIC), have invested in a minority stake in AG&P.

 

The firm will use the $100-million additional capital to develop and roll out various projects globally. One of which is the City Gas Distribution business in India, where AG&P bagged long-term, exclusive concessions to connect millions of people to compressed natural gas (CNG) for their vehicles and piped natural gas directly into their homes across South India and Rajasthan.

 

AG&P also said it will develop more small- and medium-scale LNG import terminals, such as the pending terminals in Karaikal, India that will provide the vital link to bring commercially attractive, convenient and safe gas to population centers relying on dirtier and more expensive fuels. The company is also developing LNG applications and logistics, such as LNG delivery to end-customers by different transportation options.

 

AG&P also aims to grow its intellectual property which made it and engineering firm Gas Entec leaders in the design, build, testing and commissioning of LNG bunkering vessels, floating storage and regasification (FSRUs, FRUs, FSUs and onshore variations) and LNG, dual-fuel applications for ships and other vehicles. The company also plans to roll out advanced modularization and field construction services to serve global energy and commodity markets in the US, Australia, the South Pacific and Southeast Asian markets.

 

It also eyes to rapidly accelerate domestic infrastructure in the Philippines, where AG&P proudly owns and operates two major yard facilities which employ 4,000 people. “AG&P and Gas Entec, working together, bring innovative, in-house engineering, project management, manufacturing, licensed LNG tank and handling system outfitting, construction, project development, customer marketing and operations management for LNG-related projects and for our modularization, site-work and other customers. We look forward to changing how the LNG industry works,” AG&P chairman Jose Leviste Jr. said.

 

Osaka Gas is one of the world’s foremost gas utilities, supplying natural gas to 5.5 million households and operating over 60,000 km of pipeline, in addition to a wide-range of gas, power and renewable assets around the world, including in the US, Europe and Southeast Asia. Its investment in AG&P marks the next step in a long-term relationship where both parties have worked together to develop LNG infrastructure projects in South Asia, Southeast Asia and the Americas, among others.

 

“We strongly believe that this investment in AG&P will provide Osaka Gas with a valuable asset to create and develop new markets for Osaka Gas. AG&P’s single-minded focus in developing solutions with the end-customer in mind has been inspirational to our team,” said Katz Sato, head of South and East Asia Business development for Osaka Gas.

 

Apart from providing growth capital, Osaka Gas will also work with AG&P in other areas, including technical support to various projects, such as AG&P’s major city gas initiatives in India.

Meanwhile, JBIC is an institution wholly owned by the Japanese government, intended to support Japanese industry and Japan’s strategic priorities. Its investment in AG&P was made, in line with its policy objectives, to support Osaka Gas’s ongoing collaboration with AG&P in expanding its overseas business.

BACK

Related News