Tokyo Gas Expands US Operations with Major Chevron Acquisition

TG Natural Resources, a partnership involving Tokyo Gas, is acquiring a 70% stake in Chevron's East Texas gas assets for $525 million. This expansion marks Tokyo Gas' increased presence in the US energy market, despite claims it is unrelated to Trump's policies. The acquisition enhances their operational assets in Texas.

Tokyo Gas, alongside Castleton Commodities International, has taken a significant step to bolster its footprint in the US by acquiring a 70% stake in Chevron's East Texas gas assets. The $525 million deal underscores Tokyo Gas' strategic expansion in the American energy sector.

The acquisition, confirmed on Tuesday, occurs as the US aims to amplify gas exports under the Trump administration. Officials from Tokyo Gas have dismissed any notion that Trump's policies influenced their decision, asserting that the investment has been in consideration well before his tenure.

The new arrangement will see $75 million paid in cash, with the remaining $450 million directed towards the Haynesville development in Texas. Future plans include the potential export of shale gas to Japan in liquefied form, enhancing bilateral energy ties between the two nations.

(With inputs from agencies.)