Japan-based Tokyo Gas said it was looking to buy majority shares in liquefied natural gas (LNG) projects in Africa or Southeast Asia. The company said it was looking at acquisitions to lessen its import costs. Tokyo Gas Executive Vice President Shigeru Muraki told Bloomberg that it was keen to acquire plants that have the capacity to produce up to 3 million metric tons of LNG annually.

Muraki said stakes in mid-sized projects would give them more operational control compared to large ones. Chevron Corps Wheatstone plant in Western Australia was designed to initially produce 8.9 million tons of LNG each year, according to a Bloomberg report.

In the World Energy Congress held in South Korea, Muraki said, "We can probably team up with other Japanese companies such as JGC Corp or Chiyoda Corp." Bloomberg reported that Tokyo Gas's operating expenses increased by 9.3% for the quarter that ended in June as import costs for LNG rose.