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.