Tokyo Gas acquires 24.9% in PetroVietnam's subsidiary (Vietnam)

Tokyo Gas acquires 24.9% in PetroVietnam's subsidiary (Vietnam)

The Japanese company Tokyo Gas has acquired a 24.9% stake in PetroVietnam
Low Pressure Gas Distribution (PVGasD) through its subsidiary Tokyo Gas
Asia. The transaction amount has not been disclosed but several estimations
report that the stake could be worth Y5.4bn (US$49m) based on recent share
prices.

PVGasD was established back in 2007 as an affiliate of the Vietnamese oil
and gas national company PetroVietnam Gas JSC. Its activities include in
particular pipeline network development and compressed natural gas supply.
The new shareholding scheme in PVGasD after the transaction is as follows:
24.9% Tokyo Gas Asia, 50.5% PV Gas and 24.6% others.

In recent years, Tokyo Gas accelerated the overseas development of its
engineering and energy services businesses, in particular in Malaysia and
Vietnam. The company intends to develop its natural gas-fired thermal power
generation and gas supply business units on a global scale to secure stable
revenues and further the establishment of a global LNG value chain.

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Link to Original Article:
https://www.enerdata.net/publications/daily-energy-news/tokyo-gas-acquires-2
49-petrovietnams-subsidiary-vietnam.html

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com