Tokyo Gas, Japan's biggest city gas supplier, will sell its 25% stake in an Eagle Ford shale gas project in south Texas to Shizuoka Gas for $130 million under an asset portfolio review to improve efficiency,

Tokyo Gas Co. will offload its stake in a Texas shale project, amid scrutiny from activist shareholder Elliott Investment Management, which has called for the utility to streamline its portfolio.

In a strategic move to enhance efficiency, Tokyo Gas, Japan’s largest city gas provider, announced the sale of its 25% stake in an Eagle Ford shale gas project in South Texas to Shizuoka Gas for $130 million.

Shizuoka Gas Co. Ltd. has agreed to a deal with Tokyo Gas to enter the upstream natural gas sector in North America with interest in the Eagle Ford shale formation in South

Tokyo Gas, Japans largest city gas supplier, is selling its 25% stake in an Eagle Ford shale gas project in Texas to Shizuoka Gas for $130 million. This move aligns with Tokyo Gass strategy to streamline its