KUALA LUMPUR, July 22 (Bernama) -- AGP International Holdings Pte Ltd (AG&P) has received a major equity investment from two Japanese institutions to support its success in innovating and disrupting the global natural gas value chain.
Osaka Gas Co Ltd, through its 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.
According to a statement, the capital will be used to execute AG&P’s multiple LNG initiatives worldwide, including the development of its City Gas Distribution business in India, small and medium-scale LNG import terminals and LNG applications and logistics.
“We are humbled and privileged by the trust that both Osaka Gas and JBIC have placed on AG&P. These are amazing institutions that possess tremendous expertise and experience in their respective fields,” said AG&P chairman, Dr Jose P. Leviste Jr.
“We have a great responsibility to work very hard for them and our other shareholders to continue to grow AG&P’s unique business model that captures a large portion of the LNG value chain after the molecule has been shipped.”
Osaka Gas is one of the world’s foremost gas utilities. 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.
Meanwhile, JBIC is an institution wholly owned by the Japanese Government. 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.
-- BERNAMA
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