Tokyo Gas doubles down on US shale, solar after writing down overseas investments

摘要

Tokyo Gas has expanded its US footprint by taking control of Haynesville shale gas producer Castleton Resources and acquiring a 500 MW solar power project in Texas, as part of its corporate ambition to triple overseas profits by 2030. But the Japanese company also slumped to a quarterly loss in results posted today due to writedowns on its overseas investments and a one- fifth slump in domestic city gas sales during the Covid-19 pandemic.