NEW DELHI, July 22: 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.
This capital will be used to execute AG&P’s multiple LNG initiatives worldwide, including the development and roll-out of its city gas distribution business in India, small- and medium-scale LNG import terminals, LNG applications and logistics, additional intellectual property, and advanced modularisation and field construction services.
”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.
(UNI)
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