Tokyo Gas Co Ltd has established a wholly owned subsidiary, TG Global Trading Co Ltd (TGT).
This was set up to head up the further development of the LNG trading business of the Tokyo Gas Group.
Tokyo Gas said that it regarded the global demand growth and increased liquidity centred in Asia as an opportunity to expand the LNG trading business by maximising and optimising assets, including storage tanks, LNGCs and LNG sales and purchase agreements, owned by the Tokyo Gas Group.
In Tokyo Gas’ management vision ‘Compass 2030 ’, the Group has set a goal of expanding the natural gas transaction volumes to 20 mill tonnes, which includes expanding the LNG trading volume to 5 mill tonnes by 2030.
In order to achieve these goals, Tokyo Gas said it will continue to contribute to further increasing global LNG demand through expansion of its trading and international business development by utilising the knowledge gained from the extensive experience in LNG procurement and strong relationships built with alliance partners.