LNG

Dec 21 (LNGJ) - JERA Trading Singapore, the Japanese unit of the LNG and energy procurement company set up by Tokyo Electric Power Co. and Chubu Electric, will become one of the largest coal traders globally after agreeing to acquire the EDF Trading coal and freight business of France-based EDF Group. JERA Trading will now have a major presence in both the Atlantic and Pacific basins and total physical coal sales of around 60 million tonnes per annum. It is also keeping on key staff from the EDF Trading subsidiary. “Coal is an important part of the fuel mix in the global energy markets and the transaction considerably strengthens JERA’s competitive procurement and sales capabilities,” the Japanese company said. JERA Trading will be managed from Singapore with an additional commercial hub in London that will run its Atlantic basin activities.