INPEX Corporation announces reorganization of LPG business subsidiaries
Friday, Apr 06, 2012
Tokyo Gas Co., Ltd. (President: Mr. Tsuyoshi Okamoto, hereafter “Tokyo Gas”) and INPEX CORPORATION (President: Mr. Toshiaki Kitamura, hereafter “INPEX”) have reached an agreement that Tokyo Gas Energy Co., Ltd. (President: Mr. Yuji Takanohashi, hereafter “TG Energy”), a wholly owned subsidiary of Tokyo Gas mainly running LPG business, and Teiseki Propane Co., Ltd. (President: Mr. Kasaburo Tamura, hereafter “Tei-Pro”), a wholly owned subsidiary of INPEX mainly running LPG business, will merge on 1 July , 2012, becoming effective subject to the approval of Japan Fair Trade Commission.
Through the merger, Tokyo Gas and INPEX aim to increase the corporate value by strengthening the management basis of TG Energy, the successor company, with more efficient business operations to be brought by the integration of highly complementary companies, TG Energy and Tei-Pro from the viewpoint of their market areas and existing
supply infrastructure. Furthermore, Tokyo Gas and INPEX will try to realize the strategic LPG business in the future by organically coordinating the following items No.1 to No.3 below. No.1: Stable supply of feed LPG from the upstream LPG projects owned by INPEX No.2: Loading business at the LPG loading terminals owned by Tokyo Gas and TG Energy No.3: LPG retail and wholesale business owned by TG Energy and Tei-Pro Through the merger and strategic coordination, Tokyo Gas and INPEX will supply LPG to the customers steadily and efficiently with the improved level of service.
To access over 2,700 of the latest oil projects from across the world visit Projects OGP for free trial today