Osaka Gas participates in natural gas retail business in Singapore
Osaka Gas has reached an agreement with City Gas Pte Ltd for its participation in the natural gas retail business for industrial customers in Singapore. According to the agreement, Osaka Gas will acquire 49% of the equity of the natural gas retail company newly established by City Gas.
Following the agreement on a Heads of Agreement in April 2012, the two companies have worked extensively to create a joint retail business to develop natural gas demand in the industrial energy market in the country. The existing business interest of the industrial gas supply and marketing of City Gas will be transferred to the new company.
The new natural gas retail business intends to utilise the technological expertise of Osaka Gas in cogeneration systems and industrial furnaces combined with the customer knowledge and network of City Gas for maximizing the synergies of the two in the industrial gas market in Singapore.
The planned undertaking will be the first experience for Osaka Gas to be in a natural gas retail business outside Japan.
About City Gas Pte Ltd
City Gas Trust was constituted as a private trust on 5 January 2007. City Gas Trust is a wholly owned subsidiary of CitySpring Infrastructure Trust which was listed on the Main Board of the SGX-ST on 12 February 2007. City Gas Trust is managed by City Gas Pte Ltd.
The core business of City Gas Trust is the production of town gas. Town gas is retailed island-wide to all residents. City Gas also supplies town gas and natural gas to commercial and industrial customers.
With a long heritage history of about 150 years, City Gas has been supplying town gas to almost 90% of the residents living in new Housing Development Board estates and private properties as well as many commercial and industrial operations like hawker centres, food courts, restaurants, hotels, hospitals, laundries, electronics and printing plants etc. City Gas supplies town gas and natural gas to more than 665,000 customers.
City Gas Trust is committed to deliver excellent customer service. It is an ISO 9001 certified company. It provides safe and reliable gas supply, 24-hour customer service, day and night maintenance, gas appliance servicing, regular safety inspections, installation of internal gas pipes and consultancy services.