AG&P invests in LNG designer Gas Entec

Philippines-based Atlantic Gulf and Pacific (AG&P) has announced “a major investment” in South Korean engineering and design firm Gas Entec, which specialises in small and mid-scale LNG applications.

Gas Entec is best known for having designed and built the JSK-owned floating regasification unit (FRU) deployed off Bali in Indonesia. It also engineered systems installed in Clean Jacksonville, the US’ first LNG bunker-supply ship, to be deployed at the port of Jacksonville in Florida from next year.  

AG&P says the investment complements the two companies’ interests in onshore and floating LNG products, including storage, regasification, bunkering, gas-fuelled power stations, mooring and cold-storage applications.

“No longer is LNG-fuelled power the exclusive domain of the largest utilities,” said AG&P chairman Jose P Leviste. “It is also available to a generation of innovative developers, power companies, shipowners, fishing fleets and others in a way that LNG has not been before.

“Therefore this equity partnership between AG&P and Gas Entec will contribute strongly to pushing the boundaries of this new, revolutionary industry.”

Gas Entec chief executive Kwak Chong-ho said the companies would work together to provide full design, engineering, construction and assembly and would integrate sub-components such as cargo handling and control systems for small and mid-scale LNG vessels. “Operating as an integrated one-stop shop, we will bridge the critical gap in LNG distribution and its applications globally,” he said.