By Yuka Obayashi TOKYO (Reuters) – Japanese gas distributor Tokyo Gas will target investment in overseas infrastructure projects in liquefied natural gas (LNG) and renewable energy to boost its offshore earnings, its chief executive said. The country’s biggest city gas seller and major buyer of LNG plans to leverage its links with foreign partners or team up with other Japanese companies to chase deals, President & CEO Takashi Uchida said. “We want to make an aggressive investment in Southeast Asia and North America this year to expand our LNG value chain,” Uchida told Reuters in an interview this week. Under a three-year business plan that kicked off last April, Tokyo Gas plans to spend 260 billion yen (2 billion pounds) to boost its earnings from abroad to 20 percent of its targeted operating profit of 130 billion yen in the year to March 2021. In the year to March 2018, earnings outside of Japan accounted for about 5.8 percent of its group operating profit of 116.3 billion yen. “Since we have struggled to win any major overseas deals through auctions last year, we plan to seek one-on-one deals through our foreign partners or join forces with other Japanese companies,” he… Read full this story
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