AG&P investing in Norway’s Kanfer Shipping

Atlantic, Gulf and Pacific Co. of Manila Inc. (AG&P) on Thursday announced it was making a strategic equity investment in Norway-based Kanfer Shipping, developer of small-scale sea transportation for liquefied natural gas, to help expand its global business.

AG&P said in a statement Kanfer’s solutions, along with its homegrown global engineering firm’s own portfolio, would make LNG more accessible and commercially viable for downstream customers in new and growing natural gas markets including the Philippines.

“Kanfer’s expertise complements and expands our passion for an integrated approach to LNG logistics and will enable us to reach new customers in Southeast Asia, the Caribbean and beyond,” Ibazeta said.

AG&P director Jose P. Ibazeta said this move came after the company invested in South Korea-based Gas Entec Co. Ltd., which built LNG terminals as well as bunkering and fuel systems.

Kanfer develops small-scale sea transportation for bringing LNG to drop points up rivers and along coasts.

AG&P said Kanfer’s Detachable Stern Vessel (DSV) technology had eased navigation of rivers and coastlines, including in poor weather conditions and difficult sea states.

“AG&P’s goal is to bring LNG to new markets. One of the missing links has been the capability to break-bulk LNG affordably,”  said Karthik Sathyamoorthy, president of LNG terminals and logistics at AG&P.