Union Gas diversifies into piped and liquefied natural gas;
secures contracts with an annual worth of S$2 million
• This is the Group’s fourth fuel product after liquefied petroleum gas, diesel and
compressed natural gas
• Enters into agreements with four customers to supply piped natural gas and signs letter of intent with a potential fifth customer to begin technical and feasibility studies for supply of liquefied natural gas
• Intends to leverage its well-recognised brand to win more contracts
Executive Director and Chief Executive Officer, Mr Teo Hark Piang（张学彬）, said: “Although we had our licence and were ready to supply and retail PNG and LNG since 2017, it was also in that year that we were publicly listed. At that time, we made a decision to focus on growing and expanding our existing business to gain momentum to be on the right trajectory of growth. As our existing business has since gained sufficient traction, we felt that now is the right time to revisit our plans to offer PNG
and LNG and promulgate this gas as a viable, sustainable, and environmentally friendly alternative fuel.
“We are encouraged that this new business is off to a good start with four customers and potentially a fifth coming onboard soon. Union Gas is a well-recognised and trusted homegrown brand known for quality products and reliable services and we intend to leverage this track record and our industry know-how to grow this new segment of our business.”
Note: I am not looking at the 2m contract. In my opinion, I am seeing an opening of a new chapter.