A consortium of Japanese investors has agreed to invest $370m in AG&P LNG Marketing to accelerate the energy transition in India. 

The consortium includes Osaka Gas, Sumitomo Corporation and the Japan Overseas Infrastructure Investment Corporation (JOIN).  

Besides the Japanese consortium, AG&P LNG Marketing’s other shareholders include infrastructure investor I Squared Capital and AG&P SPV3. 

AG&P LNG Marketing, based in Singapore, operates in India’s city gas distribution (CGD) sector, with investments in THINK Gas and AG&P Pratham. 

These two entities are currently developing CGD networks across 19 geographical areas, covering an expanse of 325,000km² and serving an estimated 85 million people.  

With infrastructure including more than 9,000km of low-pressure gas pipelines, 30 liquefied compressed natural gas stations and more than 430 compressed natural gas stations, they aim to meet the demands of millions of vehicles and thousands of industrial and commercial users by 2030. 

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AG&P LNG Marketing is also looking to increase investments in renewable natural gas and explore the potential of green hydrogen within the country’s city gas network. 

This investment marks Sumitomo’s entry into India’s city gas sector.  

Sumitomo will apply its expertise in liquefied natural gas (LNG) procurement and inventory management to expand sales for commercial and industrial use.  

Meanwhile, Osaka Gas will contribute by offering technical and sales support. 

The Government of India is actively promoting the use of natural gas through the expansion of the CGD network and the popularisation of CNG vehicles.  

These efforts are part of a broader strategy to meet growing energy demand, reduce carbon emissions and tackle air pollution on the path to carbon neutrality by 2070. 

I Squared senior partner of APAC Harsh Agrawal said: “India aims to boost the share of natural gas from nearly 7% currently to 15% of the primary energy mix by 2030. Our new partners, Osaka Gas, Sumitomo Corporation and JOIN, share this ambition and together we will be working to facilitate the shift from more carbon-intensive fossil fuels to natural gas in India.” 

“We are very pleased to attract these long-term and experienced partners to our growing energy platform. The additional capital provided will be used to support the energy transition in India through the expansion of last-mile city gas distribution infrastructure.” 

Last month, AG&P LNG and its partners secured a 20-year contract for the development of LNG infrastructure from PLN Energi Primer Indonesia.