Tokyo Gas Co., Ltd has announced the establishment of a wholly owned subsidiary, TG Global Trading Co., Ltd (TGT), to lead the further development of the LNG trading business of the Tokyo Gas Group.
TGT regards the global LNG demand growth centred in Asia and increased liquidity of the LNG market as an opportunity to expand the LNG trading business by maximising and optimising assets (storage tanks, LNG vessels and LNG sales and purchase agreements) owned by the Tokyo Gas Group.
In the Group Management Vision ‘Compass 2030,’ Tokyo Gas Group has set the goal to expand the company’s natural gas transaction volume to 20 million t, which includes expanding its LNG trading volume to 5 million t by 2030. In order to achieve these goals, Tokyo Gas Group will continue to contribute to further increasing global LNG demand through expansion of its LNG trading and international business development by utilising the knowledge the company has gained from its extensive experience of LNG procurement and strong relationships built with its alliance partners.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/02092020/tokyo-gas-establishes-subsidiary-to-lead-the-development-of-the-lng-trading-business/