Monday, March 11, 2013
Osaka Gas To Sell Gas In Singapore
OSAKA (Nikkei)--Osaka Gas Co. (9532) said Monday that it will start selling industrial-use natural gas in Singapore, its first foray into gas retailing abroad.
Osaka Gas took a 49% stake that day for about 3 billion yen in a new company set up by Singaporean firm City Gas Pte., which holds the remaining shares. The partners will use energy-saving technologies developed in Japan, such as cogeneration and the use of exhaust heat, as selling points in marketing the gas to entities like chemical and food production sites.
They aim to sell about 100 million cu. meters in fiscal 2020, for sales of around 8 billion yen. The new firm will employ City Gas sales routes. With more than half of Singapore's industrial facilities using relatively inefficient oil, the environment is said to be promising for getting users to switch to gas.
(The Nikkei, March 12 morning edition)