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AG&P plans to invest in India’s city gas business

AG&P plans to invest in India’s city gas business

Atlantic Gulf & Pacific Co of Manila Inc (AG&P), a gas logistics and construction company plans to invest Rs 10,000 crore(around $1.3 billion USD) in India’s city gas business over eight years. The investment by the company will be in a phased manner. The target of winning 12 city gas distribution licenses seems steep but the company is confident of achieving it. The Philippines-based company shared the top slot with Hindustan PetroleumCorp and Indian Oil (two of the biggest oil and gas companies in India),each winning nine geographical areas in the recent rounds that offered 50 licenses.

The company is planning to build a floating LNG storage unit in Puducherry by next year. Reportedly, the company also plans to tap Indian Oil’s LNG terminal in Tamil Nadu and Petronet’s LNG terminal in Kerala.“The city gas areas awarded to AG&P in this round will benefit in the schedule, pricing, and gas availability by leveraging our global project teams, standard designs, and ownership of the full, integrated supply chain of LNG and gas,” said AG&P CEO Joseph Sigelman. 

AG&P affirms that it will try to shift from conventional gas models and instead, work on measures that will create more values for customers. The company will set up City Gas Distribution (CGD) network in Mysore, Gulbarga, Bagalkot, Chikmagalur, and Uttarkannada in Karnataka, Vellore in Tamil Nadu,Anantapur, Nellore, and Chittoor in Andhra Pradesh, and Thiruvananthapuram in Kerala.


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