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Energy

Kyushu Electric to pull out of LNG power project in eastern Japan

Regional energy company fears rising costs; Tokyo Gas will proceed alone

Kyoshu Electric Power and Tokyo Gas had planned to jointly build a new LNG-fired power plant near Tokyo Gas' Sodegaura LNG facility in Chiba Prefecture. (Photo by Kai Fujii)

TOKYO -- Kyushu Electric Power plans to withdraw from an LNG-fired power plant to be built in Chiba Prefecture, near Tokyo, Nikkei has learned.

The power company, which serves western Japan, had planned to build the 1.95 million kilowatt power plant together with Tokyo Gas, bringing it online in 2028, but soaring fuel prices have hurt the profitability of its electricity retailing business, leading the Fukuoka-based company to conclude that the investment was unlikely to pay off.

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