Wednesday, 31st March 2010
In Business In Japan,
Tokyo Gas teams up with BG Group
Japanese energy firm Tokyo Gas has announced it is to work with Australian provider the BG Group for the next two decades.
Under the agreement between the two firms, Tokyo Gas will buy liquefied gas sourced from Queensland and will also buy stakes in the BG Group's ongoing project in the region.
The tie-up is set to start in 2015 and from this date, Tokyo Gas plans to purchase more than one million tonnes of liquefied natural gas (LNG). It is set to continue to buy the product until 2035.
According to the Brisbane Times, the deal could be worth as much as $20 billion Australian dollars and could also help support 8,500 jobs in the country.
General manager of the Gas Resources Department at Tokyo Gas Satoru Yasuoka told the Australian: "We have enough experience in handling lean gas, as we have bought LNG from Alaska for about 40 years."
Written by Mark Smith.