Tokyo Gas to Raise LNG Purchase

Tokyo Gas has announced plans to raise its liquefied natural gas (LNG) purchase in 2010-2011 in response to an anticipated increase in demand.

The gas supplier plans to buy 1.4% more gas (12.678 billion cubic metres) in the 2010-2011 business year, compared with about 12.498 billion cubic metres in the current fiscal year, according to Reuters.

The company said that it expected to consume 9.972 million tons of LNG in 2010/11, up from 9.797 million tons a year earlier.

The firm’s total gas sales are expected to fall 3.5% this fiscal year, while total sales over the next five years are estimated to grow by 3% a year.

Demand from the industrial sector is expected to grow over 6% a year over the next five years that will support the firm’s total gas sales, reports Reuters.