TOKYO, JAPAN – JERA Co., Inc. has announced that it has entered into a Heads of Agreement with Diamond Gas International Pte. Ltd. to purchase Liquified Natural Gas from LNG Canada Project.
In a release, JERA says the contract is for the purchase of up to 16 cargoes of LNG a year for approximately 15 years beginning in fiscal 2024.
According to JERA, this first procurement of LNG from Canada diversifies the company’s supply portfolio and can be expected to contribute to stable and economical LNG procurement in the future.
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The release goes on to say that the destination clause in this HOA is in line with the Survey on LNG Trades report released by the Japan Fair Trade Commission in June 2017.
JERA believes this will help it respond appropriately to LNG supply and demand uncertainty and expand opportunities for optimizing its LNG portfolio.
JERA says they will continue to maximize its enterprise value and its ability to respond flexibly to changes in the business environment by building an appropriate LNG portfolio and optimizing its operations.