Chubu Electric of Japan is looking for its first stake in a U.S. shale gas field, reports Reuters.
After it agreed 2.2 million tonnes of LNG from Freeport LNG project starting 2018, the company is looking to buy a stake to cover the production of about 107 billion cubic feet a year.
General manager of Chubu’s fuel department and head of its trading business, Hiroki Sato said: “Natural hedging would be the main purpose. The firm would look to hedge only part of its purchases.”
LNG World News Staff, June 26, 2014; Image: Freeport LNG