Tokyo Gas, PTT form joint venture in Thailand
Tokyo Gas and Thai state-run PTT have decided to form a joint venture to enter the onsite energy service and fuel supply business in Thailand, the Japanese company said on October 5.
The agreement was signed between Tokyo Gas Engineering Solutions Corp (TGES) and Siam Management Holdings Co. (SMH), a wholly-owned subsidiary of PTT. The joint venture company, PTT&TGES Optec Co, will enter into the energy service business including improving efficiency technology solutions and fuel supply such as LNG deliveries to factories, small power producers and utilities in Thailand, Tokyo Gas said. SMH will own 51% in PTT&TGES Optec Co. while TGES will own 49%.
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In addition to fuel supply, such as that of LNG by lorries for industrial customers, Optec will implement more advanced energy services. This will be a combination of installation of combined heat and power system, solar as well as biomass power and thermal generation system and automatic optimum control system in Thailand.