Shizuoka Gas acquires US shale stake from Tokyo Gas in $130M deal

February 22, 2025 12:35 AM AEDT | By Invezz

Shizuoka Gas acquires US shale stake from Tokyo Gas in $130M deal — Image source: Invezz

A shift in US strategy for Tokyo Gas

According to a statement released by Tokyo Gas, this decision will allow the company to concentrate on its US subsidiary, TG Natural Resources, which holds assets in East Texas and North Louisiana.

Shizuoka Gas, in a separate announcement, highlighted that the deal signifies its inaugural acquisition in a US-based enterprise and marks its entry into the upstream natural gas sector.

Shizuoka Gas’s projected gains

The shale gas production attributable to Shizuoka Gas from this project is estimated to reach 400,000 metric tons per year, calculated in liquefied natural gas (LNG) equivalent.

Shizuoka Gas clarified that the gas extracted from the project, operated by Lewis Energy Group, will be sold within the United States.

“Starting with this project, we will consider further business development in the US,” Shizuoka Gas stated, signaling its intent to expand its presence in the American market.

The company has set an ambitious goal of generating 14% of its recurring profit from its overseas business ventures by the year 2030, reflecting a strategic shift towards international expansion.

The post Shizuoka Gas acquires US shale stake from Tokyo Gas in $130M deal appeared first on Invezz

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