PV Gas D to sell stake to Tokyo Gas Asia

PV Gas D to sell stake to Tokyo Gas Asia

PetroVietnam Low Pressure Gas Distribution JSC (PV Gas D) will sell  二 四. 九 per cent stake to Tokyo Gas Asia. — Photo PV Gas D

HÀ NỘI — PetroVietnam Low Pressure Gas Distribution JSC (PV Gas D), an affiliate of PetroVietnam Gas Corporation (PV Gas), will sell  二 四. 九 per cent stake to Tokyo Gas Asia, a subsidiary of Tokyo Gas.

The announcement was made on Tuesday.

The two sides last month signed a strategic alliance agreement under which Tokyo Gas Asia will use its technology and expertise in developing the demand for natural gas and introducing energy-efficiency technologies to improve PV Gas D’s operational capacity.

The move aims to realise a memorandum of understanding on comprehensive co-operation in developing a liquefied natural gas (LNG) value chain in Việt Nam, signed between PV Gas and Tokyo Gas. Earlier, in July  二0 一 六, Tokyo Gas and PV Gas established the LNG Vietnam JSC, which specialises in LNG infrastructure and trade. 

Founded in December  二0 一 四, Tokyo Gas Asia is wholly-owned by Tokyo Gas, Japan’s largest national gas utility, and headquartered in Singapore.

Tokyo Gas has developed its network in many countries in the world. — VNS