Petredec today completed the acquisition of NGC Energy India Private Limited, the former Joint Venture in which Petredec was a minority shareholder with National Gas Company (SAOG) Oman. In closing the transaction, Petredec has acquired the Omani company’s entire interest in the Indian entity and will operate the business independently going forwards

The Petredec Group is pleased to announce the formation of Petredec Global, comprising Petredec’s trading platform as well as our modern fleet of 27 VLGCs. Petredec Global is exploring the possibilities of a public listing and would be the world’s first fully integrated VLGC shipping and trading company listed on a stock exchange.

Petredec today confirms that following the announcement made to the Oman Stock Exchange by National Gas Company (SAOG) Oman, it intends to acquire NGC’s entire interest in the two companies’ Indian Joint Venture which has focused on the development of a 34,000mts LPG import terminal in Krishnapatnam, Andhra Pradesh.

Petredec, one of the world’s leading Liquefied Petroleum Gas (LPG) trading and shipping companies, continues its programme of onshore investments in South Africa with the acquisition of Vryheid Petroleum which joined its Petrefuel division at the end of 2021.

Petredec holdings have exercised the option to construct an additional three 93,000 cbm LPG carriers with dual fuel LPG propulsion at Jiangnan Shipyard. This follows on from an announcement in early November 2020 for an initial order of three vessels.