LNG powerhouse rising as Tokyo Gas expanding with Razon, Lopez groups

October 30, 2026 | 12:00am

SINGAPORE – Japanese utility giant Tokyo Gas is open to expanding its investments in the Philippines’ natural gas sector with tycoons Enrique Razon Jr. and Federico Lopez, a top official said.

In an exclusive interview here with The STAR, Tokyo Gas Asia Pte. Ltd. CEO Yumiko Yao said the company could pursue more partnerships with Razon’s Prime Infrastructure Capital Inc. and Lopez-led First GenThese opportunities could include expanding their existing offshore liquefied natural gas (LNG) terminal in Batangas or participating in gas-fired power plant projects, she said.

“If there’s an opportunity and they consider bringing us in, we’ll be more than happy to,” Yao said.

Tokyo Gas is Japan’s largest gas utility company, supplying gas and electricity to more than 12 million customers in the Greater Tokyo Area. It is also one of the world’s largest LNG buyers.

Last year, Tokyo Gas acquired a 20-percent stake in the Batangas LNG terminal, which Prime Infra now operates.

First Gen, which retained a 20-percent stake after selling a 60-percent interest to Prime Infra, had earlier tapped Tokyo Gas to construct the facility.

Yao said Tokyo Gas seeks to capitalize on opportunities in the Philippines as demand for reliable electricity grows and the country advances its energy transition.

“You will need gas-fired power plants, and then you will need more LNG eventually. So in that sense, we hope we can invest in more LNG-receiving terminals or power plants,” she said.

Despite the expected influx of renewable energy capacity, Yao said these sources alone would not be enough to meet the country’s entire electricity demand.

Drawing on its long-standing experience in Japan, Tokyo Gas could help power industries and even extend LNG supply to remote islands that remain heavily dependent on diesel, she said.

“That would be something we would like to consider, maybe together with Prime Infra or First Gen,” Yao said.

Founded in 1885, Tokyo Gas has built an extensive energy business spanning the entire natural gas value chain, from upstream resource development and procurement to gas transportation and sales.

In Japan, the company operates several power plants with a combined capacity of about three GW and aims to increase it to five GW by 2030.