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VietNamNews

PV Gas D to sell stake to Tokyo Gas Asia

Update: August, 02/2017 - 16:15
PetroVietnam Low Pressure Gas Distribution JSC (PV Gas D) will sell 24.9 per cent stake to Tokyo Gas Asia. — Photo PV Gas D
Viet Nam News

HÀ NỘI — PetroVietnam Low Pressure Gas Distribution JSC (PV Gas D), an affiliate of PetroVietnam Gas Corporation (PV Gas), will sell 24.9 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 2016, Tokyo Gas and PV Gas established the LNG Vietnam JSC, which specialises in LNG infrastructure and trade. 

Founded in December 2014, 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

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