Japan's Jera to Sell LNG to Shizuoka Gas

Source: Reuters 12/26/2015, Location: Asia

Japan's Jera Co, set to become the world's biggest buyer of liquefied natural gas next year, said on Friday it had signed a basic agreement to sell about 70,000 tonnes of LNG per year to Shizuoka Gas for five years starting in April 2022.

The deal marks the first LNG contract for Jera, a joint venture set up by Tokyo Electric Power and Chubu Electric Power, the company said. Jera can sell to Shizuoka Gas from its own portfolio contracts on a delivered ex-shop basis, and the prices will be linked to U.S. natural gas prices, it added.

Jera will surpass Korea Gas Corp as the world's single biggest buyer of LNG with annual purchases of around 40 million tonnes in July after Jera's parent firms this week agreed to fully integrate their existing contracts to Jera.


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