Osaka Gas Co Ltd setting up natural gas supply company in Vietnam

KUALA LUMPUR, June 24 (Bernama) -- Osaka Gas Singapore Pte Ltd, together with Sojitz Corporation and Sojitz Vietnam, are set to form a joint venture company, Sojitz Osaka Gas Energy Company Ltd, aimed at supplying natural gas in the Socialist Republic of Vietnam.

According to a statement, Osaka Gas Singapore Pte Ltd is a wholly-owned subsidiary of Osaka Gas Co Ltd and Daigas Group company, a new group brand launched by Osaka Gas Co Ltd last year.

The new company plans to implement natural gas supplies to Phu My 3 Specialized Industrial Park in the southern Vietnamese province of Ba Ria-Vung Tau, as well as compressed natural gas supply business via trucking for industrial customers within Vietnam.

The project marks the fourth country for Daigas Group as it expands the business in Southeast Asia, after Singapore, Thailand and Indonesia, marking the third country, following on Singapore, and Thailand for their engagement in natural gas supply work overseas.

Under the project, the new company will promote the efficient use of cleaner natural gas and actively propose natural gas as an alternative option of fuel to coal, heavy oil and LPG. It will also contribute to energy savings and decrease the environmental impact in Vietnam.

The promotion of this project is expected to record sales worth 15 billion yen by fiscal year 2030. There are also future plans under discussion to grow energy services, as well as support for new infrastructure using various financial strategies. (100 JPY = RM3.86)

-- BERNAMA