Liquigaz expanding business in Philippines

Liquigaz Philippines Corp., the local unit of SHV Gas of Netherlands, is planning to expand its business in the country by offering fuel products other than liquefied petroleum gas (LPG).

Liquigaz president and managing director Santanu Guha told reporters that although SHV Gas almost gave up its Philippine business a few years back, the management changed its direction and decided to stay put.

“We are looking at all the emerging countries, because as you are aware, Europe is going through a very bad phase. You have to invest somewhere else and Asia is the place which people around the world are seeing as an emerging (region). It is expected that the next 25 years will belong to Asia,” Guha said.

“That’s the reason our management has decided to stay here in Philippines and give it more time to focus on the deployment of products for brand build-up, not only in the LPG business but in other types of fuels as well,” he added.

When asked if Liquigaz would participate in the local downstream oil retail sector once it decides to retail other types of fuel products, Guha said it was an option but nothing was definite.

Liquigaz is maintaining a bullish outlook on the Philippines despite an expected slower growth this year.

“Our results in 2011 have not been every good because of the fluctuation in gas prices as well as in foreign exchange—we’re importing in dollars but selling in pesos. Those fluctuations were bad for us,” Guha said.