Osaka Gas lends hand in developing India's gas lines

Japanese utility partners with local operator to modernize infrastructure

An AG&P tanker truck hauls LNG. The company's service area covers 10% of India. (Photo obtained by Nikkei)

SHIMPEI NAKAMURA, Nikkei staff writer

August 8, 2024 05:08 JST

OSAKA -- Japanese utility Osaka Gas will take part in developing India's gas infrastructure through a partnership with a local supplier that has a significant reach in the promising market.

A consortium led by Osaka Gas spent about $370 million in April to secure a 25% stake in Singaporean energy provider AG&P LNG Marketing. The transaction, which converted AG&P into an equity-method affiliate, followed a $120 million investment by Osaka Gas in AG&P in 2021.