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LNG: Japan Cooperation with S Korea and Italy on LNG Procurement

LNG
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Japan’s JERA and South Korea's Korea Gas Corp are collaborating on LNG cooperation opportunities including joint procurement and cargo swaps, according to Japan's Ministry of Economy, Trade and Industry (METI) cited by Reuters.

  • "The governments of both countries expect that this endeavour will serve as the starting point for a new LNG cooperation between Korean and Japanese companies," said a statement.
  • State-backed Japan Organization for Metals and Energy Security has separately signed a preliminary agreement with Italy’s Eni to cooperate on LNG procurement.
  • Japanese buyers are seeking contracts with more flexibility and shorter durations to enable cargo resales and diversions
  • JERA is designated by the Japanese government to secure an LNG cargo pre month from December to February as part of ensuring adequate heating season supply for the country's strategic LNG buffer.
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Japan’s JERA and South Korea's Korea Gas Corp are collaborating on LNG cooperation opportunities including joint procurement and cargo swaps, according to Japan's Ministry of Economy, Trade and Industry (METI) cited by Reuters.

  • "The governments of both countries expect that this endeavour will serve as the starting point for a new LNG cooperation between Korean and Japanese companies," said a statement.
  • State-backed Japan Organization for Metals and Energy Security has separately signed a preliminary agreement with Italy’s Eni to cooperate on LNG procurement.
  • Japanese buyers are seeking contracts with more flexibility and shorter durations to enable cargo resales and diversions
  • JERA is designated by the Japanese government to secure an LNG cargo pre month from December to February as part of ensuring adequate heating season supply for the country's strategic LNG buffer.