Fri, Mar 22, 2002 - Page 17 News List

Royal Dutch/Shell, Tokyo Gas to set up a joint venture

AP , TOKYO

Royal Dutch/Shell Group and Tokyo Gas Co said they are setting up a joint venture to supply natural gas to power providers in Japan amid the nation's ongoing industry deregulation.

The venture, scheduled to launch May 1, will mark the first time a Japanese gas utility company has gone beyond the conventional seller-buyer relationship with a major oil company. It also marks Shell's entry into Japan's downstream gas market as the energy giant moves to expand its gas marketing activities.

Nijio Co, will be initially capitalized at US$2.2 million.

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