Siamgas and Petrochemicals

What Siamgas and Petrochemicals does

Siamgas and Petrochemicals Public Company Limited (SET: SGP) is Thailand's second-largest LPG distributor, founded in 2001 and listed on the Stock Exchange of Thailand in 2008. The company operates across five Asian countries — Thailand, China, Singapore, Malaysia, and Vietnam — and has historically expanded by acquiring the LPG assets of major oil majors (Shell, BP, Chevron) across Asia. Operations are vertically integrated across the LPG value chain: trading, land and sea transport, and cylinder manufacturing.

The company's logistics footprint includes 400+ road tankers, more than 20 vessels (including three VLGCs with 106,000-ton capacity), and in-house cylinder manufacturing capacity of 750,000 units per year. Its retail brand portfolio includes Siamgas, Uniquegas, SGGAS, SINGGAS, and MYGAZ. The company holds a Fuel Trader license under Section 7 of the Fuel Trade Act and transport licenses under Sections 12/13 bis, supporting regulated downstream distribution.

The business model combines B2C household cylinder sales (4kg, 15kg, 48kg cylinders), automotive autogas retail, industrial bulk LPG supply, and petrochemical trading. A long-term storage partnership with Bangchak Corporation anchors a portion of industrial-grade volume. The Weeraborwornpong family retains a controlling stake of approximately 50%+, and the company is expanding into adjacent fuels (e.g., ethanol via SEEC) and additional geographies (announced Laos acquisition via Prasansack Gas).

Name

Siamgas and Petrochemicals

Legal name

Siamgas and Petrochemicals Public Company Limited

Website

https://siamgas.com

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Siamgas and Petrochemicals is Thailand's second-largest LPG distributor, operating across five Asian countries with vertically integrated trading, transportation, and cylinder manufacturing serving household, automotive, and industrial customers.

Ownership category

akta.pro rank

Product category

Liquefied Petroleum Gas (LPG) Distribution

NAICS

Petroleum Bulk Stations and Terminals (424710), Petroleum and Coal Products Manufacturing (324)

SIC

Wholesale-Petroleum Bulk Stations & Terminals (5171), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172)

akta.pro primary industry

Hazardous Liquids & Specialty Chemical Terminals (Methanol, Solvents, Sulfur) (EUALAEAL)

akta.pro secondary industries

Chemical Tank Farms & Bulk Liquid Chemical Storage (TLALAHAH), Liquid Bulk Petroleum Terminals (Crude, Refined Products) (TLAHABAH)

Keywords

• LPG distribution
• Petrochemical trading
• LPG cylinder manufacturing
• Fuel transportation services
• Autogas retail

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Marketing or Sales

Revenue model

1. LPG Trading: Trading and distribution of liquefied petroleum gas (LPG) under Siamgas and Uniquegas brands in Thailand, and SGGAS, SINGGAS, MYGAZ brands internationally. Covers household, automotive, and industrial segments.
2. Petrochemical Trading: Trading of petrochemical products including ammonia and other petrochemicals under trademark of Siamgas and Unique Gas
3. Transportation Services: LPG and petroleum transportation services through Lucky Carrier Company Limited (land) and Siam Lucky Marine Company Limited (marine). Services provided to domestic and overseas customers.
4. Cylinder Manufacturing: Manufacturing and distribution of LPG cylinders through Siam Quality Steel Co., Ltd. (SQS) for household and automobile use. Includes cylinder maintenance services.
5. Ethanol: Ethanol production and export through Siam Ethanol Export Company Limited (SEEC) in which SGP holds 70% equity stake

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Siamgas and Petrochemicals trades and distributes liquefied petroleum gas (LPG) through Siamgas/Uniquegas brands in Thailand and SGGAS, SINGGAS, and MYGAZ brands internationally, serving household (4kg/15kg/48kg cylinders), automotive (autogas stations), and industrial (bulk containers) segments. The group is vertically integrated with cylinder manufacturing (Siam Quality Steel), land transportation (Lucky Carrier), marine transportation (Siam Lucky Marine), and terminals and depots across Thailand, China, Singapore, Malaysia, and Vietnam. It also trades petrochemicals (ammonia) and produces ethanol via Siam Ethanol Export.

Product overview

Siamgas and Petrochemicals Public Company Limited (SGP) is Thailand's second-largest LPG trader operating a vertically integrated energy business across three core divisions: (1) LPG and Petrochemical Trading under SIAMGAS, UNIQUEGAS, SGGAS, SINGGAS, and MYGAZ brands serving household cooking, automotive autogas, and industrial bulk segments; (2) LPG and Petrochemical Transportation via Lucky Carrier (land) and Siam Lucky Marine (marine) subsidiaries operating over 400 road tankers and 20+ vessels including VLGCs; and (3) LPG Cylinder Manufacturing via Siam Quality Steel (SQS) with 750,000 units per annum capacity. The company operates across Thailand, China, Singapore, Malaysia, and Vietnam with terminals, depots, and filling stations.

Differentiator

Problem solved

Functional benefit

Brands

• Smile Rewards: Customer loyalty program for earning and redeeming reward points

Products and services

• Liquefied Petroleum Gas (LPG) LPG distributed through household cylinders (4kg, 15kg, 48kg), industrial bulk containers, and autogas stations across Thailand and East Asia. Thailand's second-largest LPG trader serving household cooking, automotive, and industrial segments.
• Petrochemical Products Trading and distribution of petrochemical products including ammonia and other petrochemical commodities alongside LPG operations under Siamgas and Unique Gas trademarks.
• Ethanol Ethanol production and export business operated through subsidiary Siam Ethanol Export Company Limited (SEEC), in which SGP holds 70% equity.
• LPG Cylinder Manufacturing LPG cylinder manufacturing and distribution via Siam Quality Steel Co., Ltd. (SQS) producing household and automotive cylinders in various sizes under TISI, ISO, and US DOT (DOT4BA/DOT4BW) certifications. Maximum production capacity of 750,000 cylinders per annum with cylinder maintenance services.
• Land Transportation Services LPG and oil land transportation via Lucky Carrier Company Limited (LCR) with a fleet of over 400 road tankers and combined loading capacity exceeding 3,500 tons, licensed under Fuel Trade Act Section 12. Services provided to domestic and overseas customers.
• Marine Transportation Services Marine transportation of LPG and petroleum via Siam Lucky Marine Company Limited (SLM), operating over 20 LPG tanker vessels with combined capacity of over 110,000 tons, including 3 VLGC vessels with combined capacity of 106,000 tons, licensed under Fuel Trade Act Section 13 bis. Services provided to domestic and overseas customers.
• Crude and Refined Oil Storage Services Crude oil and refined oil storage services provided at the group's terminals to oil refiners and traders. Named long-term customer includes Bangchak Corporation Plc.

Quantifiable outcome

• Expected sales growth of at least 10.5% year-on-year to 3.5 million tonnes in 2026
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Bangchak Corporation Plc.minorStrategic or Co-development Partner · 22 May 2020Siamgas and Petrochemicals provides crude oil and refined oil storage service to Bangchak Corporation Plc. under a long-term contract. Signing ceremony held on 22 May 2020 with Chairman Worawit Weeraborwornpong and Managing Director Supachai Weeraborwornpong representing SGP.

Scale indicators13 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• PTT Public Company Limited: Thailand's largest integrated energy company and dominant LPG/oil player. Comparable as the largest Thai downstream operator with LPG, NGL, and petroleum distribution; SGP competes directly in LPG trading but PTT is far broader in scope (upstream, midstream, retail).
• Repsol: Spanish integrated energy major with significant LPG (butane/propane) trading and bottling operations. Comparable on commodity LPG trading and downstream petrochemical distribution, though far broader upstream/integrated portfolio.

Regional players

• PetroChina: China's largest oil and gas producer with LPG and petrochemical operations in the domestic market where SGP operates SGGAS and Siam Ocean Gas. Regional comparable in Chinese LPG market competition.
• Petronas Dagangan: Malaysian downstream arm of Petronas with LPG distribution in Malaysia. Regional comparable where SGP operates MYGAZ (East Malaysia); competes for Malaysian LPG market share.
• Bharat Petroleum Corporation: Indian state-owned oil major with substantial LPG distribution (one of India's largest LPG cylinder distributors with millions of customers). Comparable on LPG distribution scale and household cylinder business model.

Direct peers

• SHV Energy: Global LPG distribution leader (parent of Primagas, Calor, Supergasbras). Comparable vertically integrated LPG distribution model with cylinder manufacturing, terminals, and transportation serving household and industrial segments across multiple geographies.
• Ferrellgas Partners: US-listed propane/LPG distributor serving residential, commercial, industrial, and agricultural customers. Direct comparable on LPG trading and distribution model, though primarily US-focused and smaller scale than SGP.
• Suburban Propane Partners: US propane distributor serving residential, commercial, industrial, and agricultural customers. Comparable on the LPG distribution-to-end-customers model with cylinder exchange and bulk delivery capabilities.
• UGI Corporation: US-listed LPG and natural gas distribution company. Comparable business model with regulated/unregulated LPG distribution to households and businesses, midstream assets, and AmeriGas (largest US propane retailer) subsidiary.
• World Gas (Sriracha Gas): Thailand's largest LPG trader (#1 market position). Closest direct competitor in Thai LPG distribution to households, automotive, and industrial customers; competes head-to-head with SGP's #2 position.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutu.be/eAnGirszylo
• LinkedInlinkedin.com/company/siamgas-and-petrochemicals-public-company-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries19 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Siamgas and Petrochemicals