AG&P invests in Gas Entec to provide LNG services

Atlantic, Gulf and Pacific Company (AG&P), a global supplier of infrastructure solutions for energy, natural resources and other industrial companies, is making a major investment in GAS Entec, a Korea-based engineering and design firm dedicated to small- and mid-scale LNG applications.

Together, AG&P and GAS Entec will provide a suite of onshore and floating products for the distribution and use of LNG, such as LNG storage, regasification, LNG fuel bunkering, LNG-fueled power solutions, next-generation mooring structures and cold storage applications.

AG&P’s Chairman, Mr. Jose P Leviste (Jr.), said, “The dramatically lower cost of LNG, coupled with the advent of new, affordable technologies such as those developed by GAS Entec have fostered a revolution in LNG applications. No longer is LNG-fueled power the exclusive domain of the largest utilities. It is also available to a generation of innovative developers, power companies, ship owners, fishing fleets and others in a way that LNG has not been before. We are seeing the democratization of LNG. Therefore, this equity partnership between AG&P and GAS Entec will contribute strongly to pushing the boundaries of this new, revolutionary industry.”

“With GAS Entec, AG&P has built a world-leading practice focused on the use of LNG for power, fuel bunkering and industrial applications, such as cold storage. We see the archipelagos of the Philippines and Indonesia as prime candidates for a wholesale switch from coal as a fuel for power to LNG, particularly as the landed cost of LNG is now roughly one-half of what it was just a few years ago. LNG is a source of clean power and provides a compelling alternative to existing coal-fired power plants.

Mr. Albert Altura, President, AG&P, said, “In addition to providing a vital diversification of fuel supply, LNG also can feed small power units that are appropriate for various islands and communities, from 5MW upward to traditionally-sized plants. As a Filipino, it is so inspiring for me that a Philippines company has managed to bring together such talent from around the world, create outstanding partnerships, as we have done with GAS Entec, and offer cutting-edge LNG products and solutions to our domestic and global customers, floating and onshore.”

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