TOKYO — Tokyo Gas has decided to acquire part of a shale gas development in Texas from U.S. oil major Chevron, Nikkei has learned, as the Japanese energy company looks to expand profit through trading.
The deal, estimated at tens of billions of yen (10 billion yen equals $66.6 million), is expected as early as April. Tokyo Gas will use the natural gas it extracts from the development to trade on the market, as well as supply the fuel to power plants and other customers.
