Sojitz and Osaka Gas Establish Natural Gas Supply Company in Vietnam
Jun. 24, 2019
Sojitz Corporation (“Sojitz”), Sojitz Vietnam Co., Ltd. (a fully-owned Sojitz subsidiary), and Osaka Gas Singapore Pte. Ltd. (Head Office: Singapore; President: Tetsuji Yoneda), a fully-owned subsidiary of Osaka Gas Co., Ltd. (Head Office: Chuo-ku, Osaka; Representative Director: Takehiro Honjo) , have reached an agreement to establish a joint venture company, Sojitz Osaka Gas Energy Company Ltd. (“Sojitz Osaka Gas”), for the purpose of supplying natural gas in the Socialist Republic of Vietnam (“Vietnam”).
In Vietnam, Sojitz began with the import and sale of LPG from the late 1990s, and started to sell industrial-grade LPG within the country from 2007. In 2014, Sojitz expanded its business in Vietnam to the supply of natural gas to Sojitz-owned and operated Long Duc Industrial Park.
Sojitz Osaka Gas aims to start supplying natural gas to Phu My 3 Specialized Industrial Park* and then expand its business to other industrial parks and major end users to reach JPY 15 billion in sales by the end of Japanese fiscal year 2030. Sojitz Osaka Gas will further explore the possibility of providing high value-added energy services, including equipment installation and operation to major end users in Vietnam. These energy services would introduce equipment installation and operation functions, such as installing natural gas equipment for industrial customers prior to delivering gas.
In Vietnam, economic growth continues to be accompanied by increasing demands for energy, and there is currently strong public interest in environmentally-sustainable economic growth. Sojitz Osaka Gas will contribute to Vietnam’s sustainable growth and to the realization of a low-carbon society by combining Sojitz’s extensive experience and ability to provide a stable supply of natural gas from domestic offshore gas fields, with the Daigas Group’s expertise in advanced energy business operations acquired through its experience in both Japan and overseas.
* An industrial park located in Bà Rịa-Vũng Tàu Province in southern Vietnam operated by Thanh Binh Phu My Joint Stock Company.
Company Overview – Sojitz Osaka Gas Energy Company Ltd.
|To be Established||August 2019 (expected)|
|Head Office||Bà Rịa-Vũng Tàu Province, Vietnam|
|Ownership||Sojitz Group - 51%
(Sojitz Corporation - 26%, Sojitz Vietnam Co., Ltd. - 25%）
Osaka Gas Singapore Pte. Ltd. - 49%
|Representative Director||Yoshiro Aoyama|
|Main Business||・Supply of natural gas to industrial users, energy services, and energy-related engineer and consulting services in Vietnam.|
Company Overview – Osaka Gas Singapore Pte. Ltd.
|Located||182 Cecil Street, #31-02 Frasers Towers, Singapore 069547|
|Ownership||Osaka Gas Co., Ltd. - 100%|
|Representative Director||Tetsuji Yoneda|
|Main Business||Surveys, development, investment and other energy services pertaining to the supply of energy and energy services|