Tokyo Gas targeting overseas LNG investments
Published by Will Owen,
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.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/30012019/tokyo-gas-targeting-overseas-lng-investments/
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