OSAKA, Japan--(BUSINESS WIRE)--Sep 29, 2015--Osaka Gas (Thailand) Co., Ltd. (Managing Director: Toshihiro Ouchi; "OGT"), a subsidiary of Osaka Gas Co., Ltd. (President: Takehiro Honjo; "Osaka Gas"), will establish OGP Energy Solutions Co., Ltd. ("OGPS"), a company that will provide fuel conversion energy services to industrial customers in Thailand, through a joint investment with PTT Retail Business Co., Ltd. (Director: Chakkrit Charuchinda, "PTTRB"), a subsidiary of PTT Public Company Limited (CEO: Tevin Vongvanich; "PTT").
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Signing ceremony: Yoshihiko Kimata Osaka Gas Representative in South East Asia (the 3rd from the left). Charcrie Buranakanonda Senior Executive Vice President PTT (the 3rd from the right) (Photo: Business Wire)
In its mid-term business plan, "Catalyze Our Dreams," the Osaka Gas Group aims to expand its downstream business outside Japan. This has already resulted in gas sales business in Singapore through City-OG Gas Energy Services Pte. Ltd., energy service business in Thailand through OGT and cogeneration/on-site business in Thailand through NS-OG Energy Solutions (Thailand) Ltd., a company jointly invested with Nippon Steel & Sumikin Engineering Co., Ltd.
Prior to establishment of this joint venture, our energy service business in Thailand focused primarily on Japanese companies. However, OGPS will be able to target both non-Japanese and Japanese companies in Thailand to expand energy service business by leveraging engineering strengths of Osaka Gas Group and the credibility and brand familiarity of PTT, Thailand's largest corporate group operating energy businesses ranging from importing to retailing of natural gas.
Based on an MOU concluded with PTT on information exchange and joint study regarding liquefied natural gas (LNG) as well as natural gas supply, Osaka Gas Group has for some years been stepping up cooperation with the PTT Group through operational and technical support for PTT's LNG receiving terminal. The establishment of OGPS will serve as an opportunity to explore the possibilities of further expansion of the joint energy business between PTT and OGT in Thailand and development of a broader range of business activities outside the country.
1. Business Overview OGPS will provide a one-stop service in Thailand covering natural gas supply, facility design, equipment leasing and maintenance, all of which are required for fuel conversion to natural gas. In exchange for such services, the company will receive energy service fees from customers.
2. Investment Scheme OGPS will be established through joint investment of OGT (60%) and PTTRB (40%).
[Overview of Companies]OGP Energy Solutions Co., Ltd. (planned) Address: 18F, Wave Place Building, 55 Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Thailand To be Established: November 2015 Business Description: Conduct fuel conversion energy services and energy related business activities for industrial customers in Thailand. Osaka Gas (Thailand) Co., Ltd. Address: 18F, Wave Place Building, 55 Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Thailand Established: October 2013 Business Description: Conduct fuel conversion energy services and energy related business activities for industrial customers in Thailand. Carry out activities such as investment, development, and various analysis associated with such services and activities. PTT Public Company Limited Address: 555 Vibhavadi Rangsit Road, Chatuchak Sub-District, Chatuchak District, Bangkok, 10900 Thailand Established: October 2001 Business Description: Gas and petroleum related business activities. Petrochemical business activities. Sales: 2.835 trillion baht (FY 2014 results) PTT Retail Business Co., Ltd. Address: 2/4 Vibhavadi Rangsit Rd., Laksi, Bangkok 10210 Thailand Established: May 25, 2007 Business Description: Holding company for subsidiary companies. Osaka Gas Co., Ltd. Address: 4 Chome-1-2 Hiranomachi, Chuo-ku, Osaka, 5410045 Japan Established: October, 1905 Business Description: Production, supply and sales of gas and power. Sales of gas equipment. Sales: 1.252 trillion yen (FY 2014 results)
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CONTACT: Osaka Gas (Thailand) Co., Ltd.
Kenzaburo Tomita, +66 (0)2-255-7550
KEYWORD: ASIA PACIFIC NORTH AMERICA CANADA THAILAND JAPAN
INDUSTRY KEYWORD: ENERGY OIL/GAS OTHER ENERGY TECHNOLOGY HARDWARE OTHER TECHNOLOGY MANUFACTURING CHEMICALS/PLASTICS ENGINEERING NATURAL RESOURCES OTHER NATURAL RESOURCES CONSTRUCTION & PROPERTY OTHER CONSTRUCTION & PROPERTY
SOURCE: Osaka Gas Co., Ltd.
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PUB: 09/29/2015 01:00 AM/DISC: 09/29/2015 01:00 AM