Tokyo Gas to Build LNG Tank at Sodegaura Terminal

Tokyo Gas Co, Japan's biggest natural gas utility, said on Friday it plans to build a new liquefied natural gas (LNGLF) (LNG) tank at the Sodegaura LNG terminal on Tokyo Bay.

The 200,000-kl tank, slated to begin operations by March 2024, will be able to hold 92,000 tonnes of LNG, making it larger than two ageing tanks that are set to be demolished, a company spokesman said.

Tokyo Gas (TOG.BE) also said it began on Thursday - in line with the construction schedule - commercial operation of the Hitachi (HTHIY) LNG terminal, which is equipped with a 230,000-kl LNG tank that can hold about 100,000-110,000 tonnes of LNG.

Tokyo Gas also said it will build a second 230,000-kl LNG tank at the Hitachi terminal by March 2021.

A major provider of natural gas to Tokyo and the surrounding regions, Tokyo Gas lowered its projected growth of total gas sales for the next five years to a little over 2 percent a year on average, taking into account the liberalisation of retail city gas sector starting from April 2017.

Tokyo Gas jointly operates the Sodegaura terminal with Tokyo Electric Power Co.

(Reporting by Osamu Tsukimori; Editing by Tom Hogue)