Tokyo Gas has signed a memorandum of understanding with Shizuoka Gas to transfer its stake in the Eagle Ford shale gas field in Texas, US, for a value of US$130 million.
On the sale of the Eagle Ford shale gas field
The transaction is part of the Japanese company’s strategy to optimize its asset portfolio and improve operational efficiency.
[post_relacionado]Since its foray into the Eagle Ford project in 2016, Tokyo Gas has used this asset to expand its presence in the US energy market. However, in line with its “Compass 2030” vision, the company has decided to redirect its focus towards other strategic projects, such as the TG Natural Resources business, which manages assets in East Texas and Northern Louisiana.
This move is part of a comprehensive review of its portfolio, with the aim of strengthening the natural gas and LNG value chain, ensuring a more stable and competitive energy supply for Japan and other markets.
Impact on the energy market
The sale of this stake marks a change in strategy for Tokyo Gas and represents an opportunity for expansion for Shizuoka Gas, which is strengthening its position in the energy sector with this acquisition. The transaction reflects the dynamism of the natural gas market and the continued interest of Japanese companies in strengthening their presence abroad.
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Source: Tokyo Gas
Photo: shutterstock