GasHub inks LNG MOUs linked to Philippines’ Razon and Aviva Groups

SINGAPORE, 15 July 2025 – H2G Green Limited (SGX:5AI) (“H2G” or the “Company”, together with its subsidiaries, collectively the “Group”), a leader in sustainable energy solutions, is pleased to announce that its subsidiary, GasHubUnited Utility Private Limited (“GasHub”), has entered into two memoranda of understanding (collectively the “MOUs”, and each an “MOU”) in relation to two separate projects with an aggregate minimum Liquified Natural Gas (“LNG”) power generation capacity of 332 Megawatts (“MW”) in the Philippines. These MOUs are not legally binding and serve as expressions of intent of the signing parties. The first MOU was executed on 10 July 2025 and entails the conversion and upgrading of a diesel-fueled 24MW power barge to a natural gas-fueled power barge with an increased capacity of 32MW, including the provision of any other LNG-related technical expertise and solutions. GasHub and the client, Primelectric Holdings, Inc. (“Primelectric”), aim to complete a feasibility study for the project and proceed with the finalisation and execution of a binding agreement within three months from the date of this MOU. Primelectric is the holding company for the distribution utility and other businesses of Prime Strategic Holdings Inc., which is part of the Razon Group led by Mr. Enrique Razon Jr., an esteemed entrepreneur and philanthropist in the Philippines. Distribution utilities own and operate the infrastructure such as power lines, substations and transformers that deliver electricity, water or gas to consumers. Primelectric operates several distribution utilities, with interests in renewable energy and energy storage opportunities, in various regions in the Philippines. The second MOU was executed on 11 July 2025 with MabuhayPower Holdings Corporation (“Mabuhay”), which is developing a LNG power plant of 300MW generation capacity. Under the proposed transaction, GasHub will undertake all LNG-related solutions, including the provision of technical and industry expertise, subject to the finalisation and execution of a binding agreement. Under the proposed agreement, GasHub will also provide an LNG floating storage unit and an onshore facility for regasification and cold energy recovery. Recovered energy will be used for industrial purposes including but not limited to a cold storage facility and a data centre. This project is estimated to require 250,000 tonnes of LNG per annum when completed. GasHub will support Mabuhay in its feasibility study and/or front-end engineering design for the implementation and supply of LNG, envisaged to be completed within six months from the date of this MOU. Thereafter, GasHub and Mabuhay envisage executing the binding agreement within a subsequent three-month period. Mabuhay is part of the Aviva Group of Companies in the Philippines with investments in power, telecommunication towers, shipping and logistics, and is engaged in the development of power plants and supply of electricity. Its related company, Mabuhay Energy Company, is a retail electricity supplier licensed by the Energy Regulatory Commission. These MOUs mark the Group’s expansion overseas for its growing Energy Business. GasHub’s expanding portfolio of local and international blue-chip clients is a testament to the growing momentum in the adoption of LNG as a more sustainable and cost-effective fuel source, thus driving demand for the Group’s sustainable energy solutions not only in Singapore but also in the region. Mr. Bentinck Ng, CEO of GasHub, said: “We are proud to be recognised by two of the top utility and power generation companies in the Philippines for our technical and engineering expertise in LNG solutions, despite being new to their market. Leveraging on our strong track record in engineering, customer service and safety, we aim to expand our regional footprint over the next 12 months.” “These projects demonstrate the execution of our strategy to expand possibilities and tap the enormous local and regional potential to meet accelerating demand for clean energy. These projects not only pave the way for future collaboration and partnerships in the Philippines for our LNG business, but will also be synergistic for our larger group as they will provide the necessary networks for the growth of our green hydrogen business in the future,” said Mr. Pek Hak Bin, CEO of H2G.