Business

PV Gas D sells nearly 25 pct of stake to Tokyo Gas Asia

The PetroVietnam Low Pressure Gas Distribution JSC (PV Gas D), an affiliate of the PetroVietnam Gas Corporation (PV Gas), announced on August 1 that it will sell 24.9 percent of its stake to Tokyo Gas
PV Gas D sells nearly 25 pct of stake to Tokyo Gas Asia ảnh 1Illustrative image (Source: pvgasd.com.vn) 
HCM City (VNA) – The PetroVietnam Low Pressure GasDistribution JSC (PV Gas D), an affiliate of the PetroVietnam Gas Corporation(PV Gas), announced on August 1 that it will sell 24.9 percent of its stake to TokyoGas Asia, a subsidiary of Tokyo Gas.

Both sides also signed a strategic alliance agreement, underwhich Tokyo Gas Asia will use its technology and expertise to improve PV GasD’s operating efficiency.

The move is meant to realise a memorandum of understandingon comprehensive cooperation in developing liquefied natural gas (LNG) value chainin Vietnam signed between PV Gas and Tokyo Gas.

Earlier in July 2016, Tokyo Gas and PV Gas established theLNG Vietnam JSC, which specailises in LNG infrastructure and trade.

Founded in December 2014, Tokyo Gas Asia is wholly-owned byTokyo Gas and headquartered in Singapore.

As the largest national gas utility in Japan, Tokyo Gas hasdeveloped its network in many countries.-VNA
source
#PetroVietnam Low Pressure Gas Distribution JSC #PV Gas D #PetroVietnam Gas Corporation #Tokyo Gas #strategic alliance agreement #liquefied natural gas Japan Vietnam
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