Japanese JV Invests in Thai Distributor

A newly established Japanese joint venture of Tokyo Gas and Mitsui has acquired a 30% equity interest in Gulf WHA MT Natural Gas Distribution Company (GWHAMT), a holding company of natural gas distribution companies for industrial estates in Thailand, said Tokyo Gas last week.

This is the fourth case in which Tokyo Gas has invested in a local gas distribution company overseas, following its investments in Gas Malaysia in Malaysia in 1992, PetroVietnam Low Pressure Gas Distribution Joint Stock Company in July 2017, and Panji Raya Alamindo in Indonesia in October 2017.

“Thailand has a relatively well-developed energy infrastructure in Southeast Asia, and energy demand for industrial use such as industrial estates has been growing under the economic policy of the Thai government. With its long history and extensive experience in Japan, Tokyo Gas Group will utilize its knowledge of the natural gas distribution business in Thailand, thus increasing GWHAMT’s business value,” Tokyo Gas said February 1.

GWHAMT is a holding company owned by Gulf Energy Development Public Company, a private power generation companies in Thailand, WHA Utilities and Power Public Company, a utility supplier for industrial estates, and MITG, a newly established joint venture company. GWHAMT will supply gas to industrial estates which are owned by Hemaraj Land and Development, the parent company of WHAUP, through a subsidiary company.