TG Natural Resources, owned by Tokyo Gas Co. and Castleton Commodities International, is acquiring a 70% stake in the East Texas gas assets of Chevron U.S.A. Inc., a subsidiary of Chevron Corp., for $525 million.

The move, announced Tuesday, marks Tokyo Gas’ expansion of its U.S. business at a time when President Donald Trump is seeking to boost U.S. gas exports.

Tokyo Gas denies the move is in response to Trump’s policies — the investment was being studied long before he came to office — but an investment of this scale could be seen favorably by the Trump administration.

The shale gas produced on the site is for the U.S. market for now, but exporting it in the form of liquefied natural gas to Japan is a future option. — Associated Press