Tokyo Gas launches LNG trading unit

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.

- Advertisements -

Most Popular

Adnoc awards Ruwais LNG gig to Baker Hughes

A unit of UAE’s energy giant Adnoc has awarded US energy services firm Baker Hughes a contract for the...

Trafigura enters $400 million loan to buy US LNG cargoes for Europe

Energy trader Trafigura has entered into two revolving credit facilities worth $400 million and will use the funds to...

DNV: eight LNG-powered vessels ordered in September

Classification society DNV has added eight LNG-powered ships to its Alternative Fuels Insight platform in September, 13 ships less...

More News Like This

Sempra joins Japanese quartet to ship liquefied e-methane from Cameron LNG

US LNG exporter Sempra Infrastructure, a unit of Sempra, is joining forces with a Japanese consortium to look into...

Japan’s Tokyo Gas awards Sodegaura LNG power plant gig to Mitsubishi Power

Japan’s city gas supplier and LNG importer, Tokyo Gas, has awarded a contract to Mitsubishi Power, a unit of...

Four firms plan to liquefy e-methane at Cameron LNG and ship it to Japan

Japan's Tokyo Gas, Osaka Gas, Toho Gas, and Mitsubishi have revealed plans to produce synthetic methane or e-methane in...

GasLog pens new LNG carrier charter deals

Peter Livanos-led LNG shipping firm GasLog has signed new charter deals for two of its TFDE liquefied natural gas...