Japan's TonenGeneral Sekiyu to set up gas stations in Australia

Japan’s oil giant TonenGeneral Sekiyu is planning to set up a network of 20 to 30 gas stations over the next few years in Australia, according to Nikkei Asian Review.

Japan’s second largest oil refiner has already bought two gas station operators in New South Wales for billions of yen, which will then be managed in partnership with Australian companies.

It also intends to distribute oil products and build storage facilities and the country.

In August, TonenGeneral signed a 50-50 joint venture with Australian logistics and infrastructure company Qube Holdings to develop storage facilities in New South Wales, reported The Australian Business Review.

The joint venture also agreed to acquire Australian fuel marketing and distribution company Petro National "to capitalise on the opportunity to supply fuel from the new import terminal facility, and will also assess other organic and acquisition opportunities to expand this integrated supply chain capability."