AsiaCorporate

Tokyo Gas launches LNG trading unit

By Mirza Duran
Tokyo Gas launches LNG trading unit
Hitachi LNG terminal (Image: Tokyo Gas)

Japan’s city gas supplier Tokyo Gas has formed an LNG trading unit to boost volumes to 5 million tonnes a year by 2030.

The new unit TG Global Trading, based at Tokyo Gas headquarters in Japan’s capital, includes about ten staff members.

“TGT regards the global LNG demand growth centered in Asia and increased liquidity of the market as an opportunity to expand the LNG trading business,” Tokyo Gas said in a statement.

To boost the volumes, the unit would optimize Tokyo Gas’ assets such as LNG storage tanks, vessels, and sales and purchase deals, it said.

Tokyo Gas previously said it plans to hike its LNG transaction volume to 20 mtpa by 2030. This includes boosting its trading volume to 5 mtpa.

The firm has 14 long-term contracts with projects located mainly in Southeast Asia, Australia, Russia, and the US.

Moreover, Tokyo Gas operates a fleet of 14 LNG carriers and owns four import terminals in Japan.

Most Popular

Contracts and Tenders

Venture Global seals new deals to support expansion of its power network

US LNG exporter Venture Global has entered into power and grid frame agreements with GE Vernova and Baker Hughes for up to 16 new, 720 MW power island units and associated power transformer equipment, supporting the continued expansion of its existing behind-the-meter, industrial power network that is not reliant on the grid.
LNG Terminals

Venture Global gets approval to place first Plaquemines LNG phase in service

Venture Global’s Plaquemines LNG has secured approval from the US FERC to place Phase 1 of its LNG export plant in Louisiana into service.
Vessels

Hanwha Ocean, Posco plan to build LNG carrier with high-manganese steel tanks

South Korean shipbuilder Hanwha Ocean and steel producer Posco plan to build a liquefied natural gas (LNG) carrier equipped with high-manganese steel cargo tanks.

More News Like This

Contracts and Tenders

Japan’s Tokyo Gas in Indonesian LNG move

Japan’s city gas supplier and LNG importer, Tokyo Gas, said it had acquired all shares of Indonesian LNG developer AGP Indonesia Utama (AGPIU).
Contracts and Tenders

AFRY bags contract for Vietnam LNG-to-power project

Swedish engineering and consulting firm AFRY has been selected as the international technical advisor for the 1.5 GW Thai Binh LNG-to-Power project in Hung Yen, Vietnam.
Contracts and Tenders

Technip Energies scores Malaysian LNG gig

French LNG engineer Technip Energies has secured a contract for Gas Malaysia's planned FSRU-based LNG terminal in Yan, Kedah.
Contracts and Tenders

Gas Malaysia to jointly develop FSRU terminal with Tokyo Gas and VTTI

Gas Malaysia has entered into a joint development agreement with its shareholder Tokyo Gas and Rotterdam-based storage terminal owner VTTI, co-owned by Vitol, IFM, and Adnoc, for its planned FSRU-based LNG regasification terminal in Yan, Kedah.