Overview
- CEO Shinichi Sasayama said more than half of the 350 billion yen earmarked for overseas projects over the next three years will go to the U.S. starting in fiscal 2026.
- Planned spending focuses on downstream assets in the U.S., including liquefaction plants, export terminals and energy services, to strengthen the supply chain.
- Tokyo Gas will further develop its East Texas shale holdings to lift profitability, building on deals for Rockcliff Energy, a 70% stake in Chevron’s East Texas gas assets and a stake in Arm Energy Trading.
- The company remains open to additional liquefaction investments or gas purchase agreements depending on terms.
- Tokyo Gas continues LNG purchases from Russia’s Sakhalin-2 under a U.S. sanctions exemption set to expire Dec. 19, with Japan seeking an extension and the CEO describing near-term disruption risk as low.