Toho Gas joins the gas market in Vietnam

Japan’s Toho Gas Co., Ltd. will participate in the gas business market in Vietnam by strategic investment cooperation and acquiring 40% of the shares of Phuc Sang Minh Technical Service Trading Joint Stock Company. PSE) – an enterprise operating in the field of gas trading, construction and installation of systems and equipment for the Gas industry, established in 2006.

PSE has 16 years of experience in gas equipment business, gas trading, and owns Phuc Sang Minh Gas Engineering Co., Ltd (JPS) specializing in construction, design and installation of gas systems for industrial parks, high-rise buildings, commercial centers, gas distribution projects in Vietnam, and is one of the private companies with the largest CNG market share in Vietnam (according to 2021 data). .

According to Toho Gas, Vietnam’s economy is developing and recovering strongly after the Covid-19 epidemic, industrial parks attract a lot of manufacturers to invest in Vietnam, making the market and demand for gas expanded and the gas business in Vietnam became extremely attractive.

Besides, with Vietnam joining the commitment at COP26 to cut CO2, Toho Gas assesses that the clean gas market (CNG / LNG) in Vietnam will have more opportunities for development and excitement.

With the purchase of shares of Phuc Sang Minh, Toho Gas wishes to expand the development of the gas business in Vietnam, contributing to the reduction of CO2 emissions with the experience it has developed in Japan.

Toho Gas is one of the three largest gas companies in Japan with the main business being: natural gas trading, headquartered in Nagoya city, Aichi prefecture, Japan. 2022 is the 100th anniversary of the establishment of this business.