Read also: Anadarko to Supply LNG to ChinaTokyo Gas is going to invest 260 billion yen (2 billion pounds) under a three-year business plan to increase its overseas earnings to 20 percent of its targeted operating profit of 130 billion yen by March 2021. In March 2018, earnings from abroad accounted for about 5.8 percent of Tokyo Gas operating profit of 116.3 billion yen.
“We want to make an aggressive investment in Southeast Asia and North America this year to expand our LNG value chain,” President & CEO Takashi Uchida said. “Since we have struggled to win any major overseas deals through auctions last year, we plan to seek one-on-one deals through our foreign partners or join forces with other Japanese companies.”
Last year Tokyo Gas signed termless contracts to buy LNG from Anadarko Petroleum’s Mozambique project, Royal Dutch Shell’s LNG Canada project and Sempra Energy’s Energia Costa Azul LNG project in Mexico.
International strategies and LNG projects will be discussed during Session 1 at the 5th International LNG Congress in St. Julian’s, Malta on 29-30 April. The Congress will gather the representatives of LNG trading companies, governmental bodies, equipment manufacturers and end users.