Tokyo Gas buys stake in PetroVietnam’s unit PVGas D

Japan’s biggest city gas supplier, Tokyo Gas, acquired a 24.9 percent equity interest in PetroVietnam’s gas distribution company, PVGas D.

In addition to the acquisition, Tokyo Gas agreed on a strategic alliance with PVGas D to develop and introduce new technologies.

Back in MArch 2012, the two companies have signed a memorandum of understanding to cooperate and develop the LNG value chain in Vietnam, and have since been in discussions on the specifics of the cooperation.

The acquisition of the equity interest in PVGas iD s the second cooperation under the MoU followed by the establishment of LNG Vietnam.