Japanese duo makes investment in AG&P
Philippines-based AG&P has received a major equity investment from Osaka Gas and a Japanese bank to support the company’s development and innovation.
Osaka Gas through its Singapore affiliate and the Japan Bank for International Cooperation (JBIC) invested in a minority stake in AG&P.
This capital will be used to execute AG&P’s multiple LNG initiatives worldwide, including the development and roll-out of the company’s city gas distribution business in India, small- and medium-scale LNG import terminals, and LNG applications and logistics such as LNG delivery to end-customers by different transportation options.
Katz Sato, head of South and East Asia business development for Osaka Gas, added: “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.
“In addition to providing growth capital, Osaka Gas will also work with AG&P in other areas, including technical support, such as providing technical collaboration for AG&P’s major city gas initiatives in India where AG&P is commencing its build-out of 12 concessions that cover many millions of people across a wide swathe of South India and Rajasthan,” Sato said.