The country’s petrochemical pioneer sets up Peak Fuel for fuels trading operation
by JG Summit Petrochemicals Group| Sep 10, 2021
Share this:
JG Summit Petrochemicals Group has officially entered the fuel sector as it kickstarts the formal operations of a new subsidiary dedicated to the wholesale trading of liquefied petroleum gas.
Peak Fuel Corporation, JGSPG’s new business unit, was organized in January 2020 to supply LPG to refillers and marketers, who in turn service dealers, retail outlets, and end-users from the residential, commercial, and industrial sectors across the country. Peak Fuel commenced its fuel trading business in August 2021, with its first sale of LPG delivered to a customer in southern Luzon.
JGSPG and Peak Fuel President and CEO Patrick C. Go said that Peak Fuel is expected to “contribute positively to the overall better performance of JGSPG in 2021,” driven by the company’s vision to be the preferred supplier of LPG in the Philippines and anchored on its mission to support local industries through the reliable supply of essential fuels.
The newest LPG player in the market, Peak Fuel is capable of supplying customers either through land- or sea-based channels through its facility inside the world-class JGSPG complex in Barangay Simlong, Batangas City.
Peak Fuel imports refrigerated LPG through Very Large Gas Carrier (VLGC) ships, which are received through the jetty facility of the complex. The LPG is then stored in two refrigerated tanks with a combined capacity of 32,000 metric tons.
first LPG shipment for Peak Fuel being received through the jetty facility at the JGSPG Complex in Batangas City.
For customers with land-based channels, the company has two LPG bullet tanks designed for truck loading with a combined capacity of 900 MT. To serve its domestic and export customers with sea-fed terminals, it can fill pressurized gas carriers from its two spherical tanks, which have a combined capacity of 8,000 MT.
With these facilities, Peak Fuel has the largest storage capacity in a terminal among domestic players today.
Samuel Co Chan, general manager of Peak Fuel, says that the company aims to “establish itself as a reliable LPG supplier in the country, contributing to the domestic market by making LPG readily available and more affordable, which ultimately will be for the benefit of the Filipino consumer.”
With JG Summit’s entry into the fuels market through Peak Fuel, JGSPG reinforces the conglomerate’s mission of Making Life Better for every Filipino.
For more information on JG Summit Petrochemicals Group, visit jgspetrochem.com
The only airline on Prosple’s list, CEB praised for approachable management & employee engagement efforts
We use cookies to ensure you get the best experience on jgsummit.com.ph. By continuing to browse our site, you are agreeing to our use of cookies. Find out more here.
