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

Galp wins Calcasieu Pass arbitration against Venture Global

Portuguese energy firm Galp has won an arbitration case against US LNG exporter Venture Global LNG over LNG sales from the Calcasieu Pass plant in Louisiana.
Vessels

MISC to order five more LNG carriers for Petronas charter

Malaysian shipping firm MISC will order five additional newbuild 174,000-cbm liquefied natural gas (LNG) carriers at China's Hudong-Zhonghua. The vessels will serve a 20-year charter with a unit of MISC's parent, Petronas.
Contracts and Tenders

Seatrium scores Excelerate FSRU conversion gig

Singapore's Seatrium has secured a floating storage and regasification unit conversion contract with an option for a second contract from US FSRU player Excelerate Energy.

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.