The Japanese company paid $2.7 billion to acquire Texas-based natural gas producer Rockcliff Energy in December and agreed to purchase a 49% stake in North American energy marketing and trading firm ARM Energy Trading in February.
"We would still consider investing in shale gas assets if we can acquire them at the appropriate price and in a competitive way," Tokyo Gas President Shinichi Sasayama told reporters on the sidelines of the Japan Energy Summit conference in Tokyo.
"But we are not only looking to upstream assets, but also to surrounding assets such as marketing, trading and storage batteries, so that we could link them together to build the total value chains," he said.
In Asia, Tokyo Gas is studying two liquefied natural gas-to-power projects at Quang Ninh and Thai Binh in Vietnam and hopes to start commercial operations in late 2027 and in 2029, respectively.
Asked about the timing of a final investment decision, Sasayama said that was unlikely before the end of the current fiscal year, which runs through next March.
