LNG

Jan 26 (LNGJ) - Hokkaido Electric Power Co., the Japanese utility that receives cargoes from the US including Freeport LNG in Texas before the June closure, said nine-month power sales increased by more than 41 percent to 623.8 billion Japanese yen ($4.8Bln).

   However, the company said it posted a net loss in the fiscal year to December and planned to increase electricity prices by at least 32 percent from June. The utility, which imports LNG volumes at the Ishikari import terminal, swung to a nine-month loss of 21Bln yen ($161.1 million) as fuel prices for power generation rose.

JERA Co. Inc., the Japanese LNG buyer of 35 million tonnes per annum of volumes and with control of a fleet of 20 LNG carriers, has drawn up measures to address supply and demand issues in Japan through the Northern Hemisphere summer season.

Osaka Gas, the Japanese utility is advancing its strategy of US shale investments and with world-class LNG supplies backed by a gas-fired power generation model for Japan and Asia.