AG&P Receives Landmark Equity Investment from Osaka Gas and JBIC

AGP International Holdings Pte. Ltd has announced that it has received a major equity investment from two Japanese institutions to support AG&P’s 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. This capital will be used to execute AG&P’s multiple LNG initiatives worldwide, including the development and roll-out of:

• AG&P’s City Gas Distribution business in India, where AG&P has won long-term, exclusive concessions to connect millions of people to compressed natural gas (CNG) for their vehicles and piped natural gas (PNG) directly into their homes across South India and Rajasthan;
• Small- and medium-scale LNG import terminals, such as AG&P’s pending terminals in Karaikal, India and elsewhere, that will provide the vital link to bring commercially attractive, convenient and safe gas to population centers that today rely on dirtier and more expensive fuels;
• LNG applications and logistics, such as LNG delivery to end-customers by different transportation options.
• Additional intellectual property that has made AG&P and its family engineering company, Gas Entec, leaders in the design, build, testing and commissioning of LNG bunkering vessels, floating storage and regasification (FSRUs, FRUs, FSUs and onshore variations) and LNG, dual-fuel applications for ships and other vehicles; and
• Advanced modularization and field construction services to serve global energy and commodity markets in the US, Australia, the South Pacific and Southeast Asian markets and rapidly accelerating domestic infrastructure in the Philippines, where AG&P proudly owns and operates two major yard facilities, employing 4,000 people.

“We are humbled and privileged by the trust that both Osaka Gas and JBIC have placed in AG&P.  These are amazing institutions that possess tremendous expertise and experience in their respective fields.  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,” Dr. Jose P. Leviste Jr, Chairman AG&P, said.

Dr. Leviste continued: “AG&P and Gas Entec, working together, bring innovative, in-house engineering, project management, manufacturing, licensed LNG tank and handling system outfitting, construction, project development, customer marketing and operations management for LNG-related projects and for our modularization, site-work and other customers.  We look forward to changing how the LNG industry works.”