According to Reuters, Tokyo Gas is targeting investment opportunities in overseas LNG infrastructure, in order to boost its offshore earnings.
The news was announced by the company’s President & CEO, Takashi Uchida, who told Reuters: “We want to make an aggressive investment in Southeast Asia and North America this year to expand our LNG value chain.”
Tokyo Gas has laid out a three-year business plan that started in April 2018. The company plans to spend 260 billion yen to boost its overseas earnings by 20% of its operating profit target of 130 billion yen in the year to March 2021. Previously, the company’s overseas earnings accounted for approximately 5.8% of its operating profit of 116.3 billion yen.
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