TOKYO, Sept. 28, 2000 (Jiji Press)Tokyo Gas Co., Tokyo Electric Power Co. and Shizuoka Gas Co. will join hands in procurement, storage and distribution of liquefied natural gas, they said Thursday.
Shizuoka Gas, a regional gas supplier based in Shizuoka, central Japan, will issue three million new shares respectively to Tokyo Gas and Tokyo Electric, giving each of them a 4.46 pct stake.
Shizuoka Gas plans to use the proceeds to beef up its LNG infrastructure.
Under the tie-up, Tokyo Gas and Shizuoka will consider extending their pipelines to connect with each other’s, a step aimed at establishing stable LNG distribution infrastructure covering a wide area of eastern and central Japan.
Tokyo Electric will cooperate with Shizuoka in developing a business model to diversify power sources through the promotion of private electricity generating facilities.
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