Elf Gas, a joint venture between the French oil and gas group Total and the Saigon Construction Corporation, on Tuesday stated it had bought 100% of Gas Saigon Company’s shares. The value of this deal was not revealed.Thanks to this affair, Total’s market share increases to 15% of the Vietnamese liquefied petroleum gas (LPG) market. The deal also equips Total with an additional LPG import station in Go Dau, HCM City.Total will also have a broader system of distribution with an additional 20 LPG distributors in Vietnam.Total came to Vietnam in the late 1970s, starting with oil exploration and exploitation in southern Vietnam. The group is currently involved in oil refining, LPG, lubricating oil and petroleum distribution. It has around 400 employees in Vietnam.Total is one of France’s largest corporations and the world's fourth-largest publicly-traded integrated international oil and gas company.
Source:VNE
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