News
04 July 2012

National Gas inks deal to buy Shell’s Malaysian LPG assets

Kuala Lumpur: National Gas Company (NGC), the leading energy company in the Middle East signed the Sale and Purchase Agreement with Shell Malaysia Trading Sdn. Bhd. (SMTSB) to divest its Liquefied Petroleum Gas (LPG) business in West Malaysia.

 

The agreement was signed on behalf of NGC by Sh. Abdulla Bin Suleiman Al Harthy, Chairman, and on behalf of Shell by their Chairman, Mr. Anuar Taib in Malaysia. 

Speaking at the occasion the National Gas Chairman, Sh. Abdulla Al Harthy, said, “NGC has extensive operational experience in the field of LPG extending for more than three decades. We have pioneered many initiatives in the field of LPG and we believe that the use of our expertise will result in value addition to our stake-holders. Our experience in the Omani market has helped us gain confidence to expand into new markets outside the Middle East.” He added that “National Gas is very proud to be the first Middle Eastern company to effectively enter the South East Asian market in the LPG sector. We believe that our entry into the Malaysian market is a strong testament to the brotherly relations between the Oman and Malaysia.”
           
Mr. Azman Ismail, Managing Director, SMTSB, said that “I believe National Gas has the experience and capability to successfully introduce the LPG solutions that they have developed in the Middle East, into the Malaysian market. The acquisition of Shell LPG assets will provide National Gas the right platform to introduce these innovative technologies that will benefit the Malaysian industry.” The Shell’s unit for the production and manufacture of cooking gas has been working in Malaysia for over 20 years and has about 70 employees across West Malaysia. 

Mr. Goutam Sen, Chief Executive Officer, NGC, said that “NGC Energy aims to reach not only to the customers in the domestic sector but also would prove highly beneficial for customers in the commercial and industrial sectors. National Gas brings with it, expertise in Synthetic Natural Gas (SNG), Metal Cutting Gas and Township Gas Networks to name a few. National Gas and Shell are jointly committed to make this new venture successful. We shall put in sincere efforts to maintain the high operational and safety standards set by Shell in the past.”