Oman's NGC Makes Significant Foray Into M'sia's LPG Market

KUALA LUMPUR, May 10 (Bernama) – Oman's National Gas Company SAOG has made a significant foray into the liquefied petroleum gas (LPG) market in Malaysia. Its chairman, Sheikh Abdulla Suleiman Hamed Al Harthy said a new entity, NGC Energy Sdn Bhd, will serve as the vehicle for the introduction of many innovative energy solutions locally. "National Gas has been operating in Malaysia for the past two years through franchise partners," he said in his keynote address at the agreement signing ceremony between Shell Malaysia Trading Sdn Bhd and NGC Energy Sdn Bhd. NGC is acquiring Shell's LPG assets in west Malaysia for an undisclosed sum. Meanwhile, NGC chief executive officer Goutam Sen said the company is looking at new applications in Malaysia such as industrial applications, which had been successful in the Middle East. "In the next few months, we reckon we'll get the licensing for us to retail petroleum products," Goutam said after the signing ceremony. He added that the company is looking at a volume of 22,000 to 25,000 tonnes per month, which is about 22 per cent of the Malaysian LPG market. "We are targeting the medium to heavy-scale industries," Goutam said. -- BERNAMA