Wants to be part in more Asian LNG projects, what a surprise..

Yes, this is the same Tokyo Gas that wanted to join EWC in Indonesia and first right of refusal in other projects

Japan: Tokyo Gas Plans to Join More LNG Projects
Posted on Oct 21st, 2011

Tokyo Gas Co. President Tsuyoshi Okamoto said Thursday that the utility is considering taking part in more projects to develop gas fields overseas to procure liquefied natural gas more stably.

In an interview with Kyodo News, he said there are one or more countries or regions “in which we are considering participating” in a “broad Pacific area,” without giving any specifics, citing consideration for counterparts.

The utility is considering the move with the aim of expanding its direct procurement of LNG and limiting the impact of fluctuations in the price of LNG imports by strengthening “upstream business” covering development to production.

Tokyo Gas, which promotes “diversification of supply sources” as the pillar of its procurement strategy, has already taken part in gas field development and LNG base construction projects in Australia. It has also reached a basic agreement with related companies to participate in a project in Indonesia.

On domestic demand, Okamoto said it would be “unavoidable” for electric power companies to shift to LNG in the short term as they boost thermal power generation amid the difficulty of restarting nuclear reactors idled for regular checks in the wake of the Fukushima nuclear crisis.

But he said procurement in the business year starting April next year will not be directly affected, as it can secure sufficient supplies under already concluded contracts.

Okamoto expressed caution about expanding the company’s own electricity business, comprising several power generation plants located adjacent to its LNG plants in the Tokyo metropolitan area, which are capable of generating a total of around 1.3 million kilowatts of electricity.

“Discussions regarding the direction of the electric power industry centering on Tokyo Electric Power Co. have just begun,” he said. “We will not be able to take risks until we see the outcome.”