MANILA, PHILIPPINES — JG Summit Petrochemicals Group (JGSPG), a pioneer in the petrochemical industry in the Philippines, 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 (LPG).
Dubbed Peak Fuel Corporation (Peak Fuel), the 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. It commenced its fuel trading business in August 2021 with its first sale of liquefied petroleum gas (LPG) delivered to a valued 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.
As the newest LPG player in the market, Peak Fuels, through its facility located inside the world-class JGSPG Complex in Barangay Simlong, Batangas City, is capable of supplying customers either through land-based or sea-based channels. Peak Fuel imports refrigerated LPG through very large gas carriers (VLGC) which are then received through the jetty facility of the Complex and stored in two refrigerated tanks with a combined capacity of 32,000 metric tons (MT).
Moreover, it has two LPG bullet tanks designed for truck loading with a combined capacity of 900 MT. It can also fill in pressurized gas carriers from its two spherical tanks, which have a combined capacity of 8,000 MT, to serve domestic and export customers with sea-fed terminals.
With its facilities, Peak Fuel today has the largest storage capacity in a terminal among domestic players.
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 to Making Life Better for every Filipino.
