LNG

Japanese city gas supplier Shizuoka Gas will invest $100 million in MidOcean Energy, the LNG platform backed by US infrastructure investor EIG, building on Idemitsu Kosan’s $500 million commitment as oil refiner aspires a “full-scale entry into the LNG business.”

Shizuoka Gas, a Japanese city gas utility, has signed a seven-year contract to import LNG starting April 2027 indexed at a 12% slope to Brent crude oil prices, traders told S&P Global Commodity Insights. Shizuoka is reportedly seeking to source five cargoes per year under the contract, concluded on a delivered ex-ship (DES) basis.

Royal Dutch Shell’s Asian trading subsidiary has signed an agreement to purchase the first LNG cargoes from Japan’s newest bi-directional terminal that imports and regasifies shipments and also offers re-loads.