Tohoku Electric Power secures six LNG cargoes as Japanese utilities avoid last year’s shortages
Japanese utility Tohoku Electric Power has signed a contract with BP of the UK for six cargoes of liquefied natural gas for early 2022 to avoid paying too high a price on the spot market and to help keep inventories at a high level this coming winter.
Cameron Japan deal
Oct 17 (LNGJ) - Tohoku Electric Power, the Japanese utility based in the east coast city of Sendai, has signed an 18-year agreement to receive 200,000 tonnes of LNG per annum from the Sempra Energy-operated Cameron export plant at Hackberry in Louisiana linked to the Henry Hub benchmark price.
The cargoes would be delivered to Tohoku from the start of 2022 with shipping included in the price under an agreement between the utility and Diamond Gas International, a subsidiary of Cameron project stakeholder Mitsubishi Corp. of Japan. Tohoku noted that the contract did not include any “destination restrictions”, allowing the utility to change the destination of the LNG and resell it to third parties in cooperation with Diamond Gas.
