Japan’s Tokyo Gas has purchased a 24.9% stake in PetroVietnam Low Pressure Gas Distribution in its latest acquisition in the Southeast Asian market, according to Deal Street Asia.
The companies will enter a strategic alliance that will see Tokyo Gas share its experience and energy-saving technologies with the PetroVietnam subsidiary.
The two companies have been cooperating since 2012 via a comprehensive memorandum of understanding in the LNG value chain in Vietnam.
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