Tokyo Gas Sets Up LNG Trading Unit

Japanese utility Tokyo Gas on September 1 announced it has established a wholly owned subsidiary, TG Global Trading (TGT), to further develop its LNG trading business.

“TGT regards the global LNG demand growth centered in Asia and increased liquidity of the LNG market as an opportunity to expand the LNG trading business by maximising and optimising assets (storage tanks, LNG vessels and LNG sales and purchase agreements) owned by the Tokyo Gas group,” the company said.

Tokyo Gas group has set the goal to expand its natural gas transaction volume to 20mn metric tons which includes expanding the LNG trading volume to 5mn mt by 2030.

“In order to achieve these goals, Tokyo Gas group will continue to contribute to further increasing global LNG demand through expansion of our LNG trading and international business development by utilising the knowledge we have gained from our extensive experience of LNG procurement and strong relationships built with our alliance partners,” Tokyo Gas said.