Osaka Gas, PTT to form energy service JV in Thailand

Source：Ringier Metalworking Release Date：2015-10-09 147

Metalworking

The JV will serve as an opportunity to explore the energy business between PTT and OGT in Thailand and development of a broader range of business activities outside the country.

Osaka Gas (Thailand) Co., Ltd, a subsidiary of Osaka Gas Co. Ltd, will establish OGP Energy Solutions Co., Ltd, a company that will provide fuel conversion energy services to industrial customers in Thailand, through a joint investment with PTT Retail Business Co. Ltd, a subsidiary of PTT Public Company Limited.

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.

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.

Investment Scheme
OGPS will be established through joint investment of OGT (60%) and PTTRB (40%).

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