Osaka Gas (TYO:9532) is considering joining up to five additional natural gas-fired power stations in the U.S., which would expand its current operational presence by twofold, Nikkei Asia reported on Friday.
The gas supplier is evaluating opportunities to either operate or invest in facilities located in states such as Texas and Virginia, with potential start dates as early as 2030, the publication said.
This initiative is not part of Japan's $550 billion investment commitment to the U.S. and loans made under the two nations' tariff deal, even as roughly 20 Japanese companies, including SoftBank Group (TYO:9984), pursue similar gas power projects following U.S.-Japan trade discussions, the report said.
Gas-fired generation serves as the foundation of the first stage of Japan's investment and lending pledge, which includes a $33.3 billion project led by a consortium featuring SoftBank Group, Panasonic (TYO:6752), and Murata Manufacturing (TYO:6981), with additional gas plants planned for the second phase, it added.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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