Osaka Gas Co. Ltd.: Investments and a Conclusion of Collaboration Agreement with AGP International Holdings Pte. Ltd. as Development of Natural Gas Infrastructure Proceeds

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OSAKA, Japan–(BUSINESS WIRE)–Jul. 22, 2019

Osaka Gas Co., Ltd., (Osaka Gas) has, through their wholly-owned subsidiary, Osaka Gas Singapore Pte. Ltd. (OGS), and in conjunction with the Japan Bank for International Cooperation (JBIC), invested capital in AGP International Holdings Pte. Ltd. (AGP IH). Osaka Gas has also entered into a collaboration agreement specific to AGP IH and its natural gas value chain.

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Key representatives from AG&P, Osaka Gas, and Japan Bank for International Cooperation, sign the equity investment agreement in Makati City. Present during the signing ceremony are (from L-R) Mr Takahito Marushima, Director, Division 1, Equity Investment Department, Equity Finance Group, JBIC; Mr. Shinji Fujino, Managing Executive Officer, Global Head of Equity Finance Group, JBIC; Dr. Jose P. Leviste Jr., Chairman, AG&P; Atty. Marie Antonette Quiogue, General Counsel at AG&P; Mr Tetsuji Yoneda, President & CEO, Osaka Gas Singapore; and Mr. Kei Takeuchi, Senior Executive Officer, Osaka Gas Co., Ltd.

Key representatives from AG&P, Osaka Gas, and Japan Bank for International Cooperation, sign the equity investment agreement in Makati City. Present during the signing ceremony are (from L-R) Mr Takahito Marushima, Director, Division 1, Equity Investment Department, Equity Finance Group, JBIC; Mr. Shinji Fujino, Managing Executive Officer, Global Head of Equity Finance Group, JBIC; Dr. Jose P. Leviste Jr., Chairman, AG&P; Atty. Marie Antonette Quiogue, General Counsel at AG&P; Mr Tetsuji Yoneda, President & CEO, Osaka Gas Singapore; and Mr. Kei Takeuchi, Senior Executive Officer, Osaka Gas Co., Ltd.

AGP Group has expanded from its over 100-year old legacy in construction and engineering business to acquisition of Gas Entec Co., Ltd. (Gas Entec), which designs small- to medium-sized LNG vessels. AGP Group possesses high engineering skills and marketing abilities in LNG industry, actively involved in developing the LNG businesses with floating LNG platforms and city gas business to meet the growing demand mainly in Southeast Asia and India.

Osaka Gas is presently active in Singapore, Thailand, and Indonesia, growing the gas supply business for industrial customers, as well as the energy services business. There are also plans to begin operating in Vietnam this year. With this investment and entry into a collaboration agreement, there will continue to be synergy from the project development know-how and engineering skills that the AGP Group has in LNG businesses as well as the knowledge that Osaka Gas has accumulated domestically for LNG and gas pipelines. Moving forward, the companies will be actively involved in developing LNG terminal, power plant and LNG supply businesses to create a natural gas value chain in Southeast Asia and other countries which have growing demand for LNG.

The Daigas Group* is dedicated to accelerating its growth in overseas energy sectors, as noted in Going Forward Beyond Borders 2030, their long-term business vision and mid-term business plan. Moving forward, Southeast Asia, where expectations are that natural gas demand will continue to grow, will be positioned as a critical region of activity. The overseas energy business, including the work in Southeast Asia, will be expanded.

*On March 8, 2018, Osaka Gas Co., Ltd. launched a new group brand “Daigas Group.”

1. AGP Group Overview

Including project-dedicated workforce, AGP Group has 4,000 employees. To date, they have conducted business in more than 30 countries.

Investment Target

AGP International Holdings Pte. Ltd.

Address

600 North Bridge Road, #05-01 Parview Square, Singapore 188778

Chairman

Joey P. Leviste, Jr

Principal Group Business Activities

  • Construction: Modular construction, Onsite Construction, Field Deployment
  • LNG: Engineering & Commissioning, LNG Terminals & Floating Solutions, LNG Break-bulking & Logistics
  • City Gas Distribution: Transport, Commercial & Industrial, Households

2. Overviews of the Related Companies

JBIC

Name

Japan Bank for International Cooperation

Address

1-4-1 Otemachi, Chiyoda Ward, Tokyo Japan

Director

Tadashi Maeda

Establishment

April 2012, although its predecessor, the Japan Import-Export Bank, was established in 1950

Principal Business Activities

A government financial institution, wholly-owned by the Japanese government, offering support for the overseas development of Japanese companies

OGS

Name

Osaka Gas Singapore Pte. Ltd.

Address

182 Cecil Street #31-02 Frasers Tower Singapore 069547

Representative

Tetsuji Yoneda

Establishment

March 2013

Principal Business Activities

Research, development, and investment specific to energy supply and energy services

The original source-language text of this announcement is the official, authoritative version. Translations are provided as an accommodation only, and should be cross-referenced with the source-language text, which is the only version of the text intended to have legal effect.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190721005041/en/

Contact:

Osaka Gas Co., Ltd.
South East Asia Energy Business Dept.,
Energy Resources and International Business Unit.
Telephone: +81-6-6205-4564

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