LNG

Jera Co Inc. of Japan, already the nation’s largest LNG importer, will become Japan's biggest power generation company when it assumes the domestic power  businesses of Tokyo Electric Power Co. and Chubu Electric Power Co. in April 2019, giving it control of about half of Japan's power market.

Jera Co. Inc., the largest Japanese liquefied natural gas importer with around 40 million tonnes per annum of requirements, said it was still replacing ageing oil-fired thermal power plants in Japan with coal-fired units instead of gas for economic reasons.

Oct 22 (LNG) - Jerat Trading, the LNG and energy trading arm created by the merger of Jera Co. Inc. and French firm EDF Trading, has been assigned an “A” credit rating from the Japanese agency, Rating and Investment Inc. Jerat is now two-thirds owned by Jera Co. Inc. and EDF Trading holds one third of the shares. “R&I cites this rating as a reflection of the creditworthiness of the entire Jera Group, which is also rated ‘A’ with stable outlook,” said Jerat. Jera Co. Inc. itself was formed by the merging of the LNG procurement activities of the two largest Japanese utilities, Tokyo Electric Power Co. and Chubu Electric.

Japanese LNG and energy procurement company Jera Co. Inc., formed by Tokyo Electric Power Co. and Chubu Electric, has signed a binding agreement with French firm EDF Trading Ltd to form an LNG and trading joint venture.