Jera to purchase gas from LNG Canada

Thursday, 18 April 2019
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Japanese utility concern, JERA has signed a Heads of Agreement (HOA) with Diamond Gas International Pte Ltd, a subsidiary of Mitsubishi Corp, for the sale and purchase of LNG from the LNG Canada Project.

The contract is for the purchase of up to 16 cargoes of LNG a year for about 15 years beginning in fiscal 2024. This first procurement of LNG from Canada diversifies JERA’s supply portfolio and can be expected to contribute to stable and economical LNG procurement in the future, the company said.

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, and JERA said that it believed this will help it respond appropriately to LNG supply and demand uncertainty and expand opportunities for optimising its LNG portfolio. 

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