According to a stock exchange announcement, H2G Green formed H2G Clean Energy August 28
H2G Clean Energy will be principally engaged in the supply and trading of LNG, hydrogen-related products, and other “clean energy” products to users such as power plants across the region, leveraging on the commercial networks of H2G.
H2G cited Shell’s latest LNG outlook, saying that global demand for LNG is forecasted to rise by around 60 percent by 2040, largely driven by economic growth in Asia, emissions reductions in heavy industry and transport, as well as the impact of artificial intelligence.
The group’s new dedicated unit will tap into international trading and supply opportunities
arising from such growing demand, it said.
As a start, H2G Clean Energy will target markets that are underserved by the energy majors, addressing supply chain gaps to improve access to LNG in developing countries, H2G said.
LNG projects in Philippines
H2G noted that its 52.03 percent-owned subsidiary Gashubunited Utility had earlier in July this year entered into two non-binding memoranda of understanding to undertake two LNG projects in the Philippines.
These include the conversion and upgrading of a diesel-fueled 24 megawatts (MW) power barge to a natural gas-fueled power barge with an increased capacity of 32 MW and the provision of an LNG floating storage unit and an onshore facility for the purpose of regasification and cold energy recovery for a 300 MW LNG power plant.
“As the group’s regional business expands, the establishment of H2G Clean Energy will improve managerial resource allocation across the group’s different units within the energy business and strengthen the ability to capitalise on downstream energy trading and supply opportunities,” the company said.
The group’s biomass-to-green hydrogen business, carried out by its 50.10 percent-owned
subsidiary Green Energy Investment “GEIH), remains on track towards full commercialisation of its production facility in Singapore to repurpose and transform waste biomass into green hydrogen, as well as biochar and other high-value, sustainable materials, the company added.
“The establishment of H2G Clean Energy demonstrates our strategy to grow and integrate the energy susiness across multiple domains, not just in technology development, engineering and LNG last-mile distribution, but also in energy trading and supply, to extract synergies and improve operational excellence across the group,” Pek Hak Bin, CEO of H2G, said.
