INTERVIEW: Osaka Gas Expects FY 2020 Overseas Profit to Surge

Economy

Osaka, Dec. 11 (Jiji Press)--Osaka Gas Co. <9532> President Takehiro Honjo has said the company expects its profit from overseas operations in fiscal 2020 will jump two to three times from some 6.5 billion yen estimated for the current year.

"Our upstream, midstream and downstream businesses abroad will contribute to our profits," Honjo said in a recent interview, anticipating rosy performances in areas including natural resources development and retail operations.

Osaka Gas said Tuesday that a Texas liquefied natural gas projected participated by the company has been fully launched. A natural gas-fired thermal power plant in Pennsylvania, in which Osaka Gas has a stake, has started commercial operations, the company also said.

In Britain, Osaka Gas is expected to invest in electricity and gas retailer Igloo Energy Supply Ltd. later this month.

Honjo also said that Osaka Gas will aim to secure 2 million kilowatts in solar and other renewable energy sources in fiscal 2030, up from the current target of one million kilowatts.

[Copyright The Jiji Press, Ltd.]

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