Jera in talks on international LNG alliance

Jera in talks on international LNG allianceImage courtesy of Jera

Japan’s Jera, the Tepco-Chubu JV entered talks with Kogas of South Korea and China’s CNOOC to form a large LNG buyers alliance. 

Hiroki Sato, Jera’s vice president of the company’s fuel buying department, told Bloomberg that the company is looking to cooperate on liquefied natural gas procurement and investment.

It is expected that a memorandum of understanding is signed on Friday.

With new supply coming from Australia and the United States, consumers had a better bargaining position recently, however, an alliance of LNG buyers could pull the advantage back in their hands.

Sato added that the alliance opens doors to lower prices with larger volumes. Lower prices would subsequently be passed on to other smaller buyers which could benefit from the formation of such an alliance.

The companies within the group would have the option of trading and swapping cargoes among each other in order to balance supply.

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< May 2018 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Singapore International Bunkering Conference and Exhibition (SIBCON)

The 20th edition of the Singapore International Bunkering Conference and Exhibition (SIBCON) will be about inspiring change…

read more >

4th Annual Upstream West Africa Summit 2018

In June 2018, Senegal will play host to the No.1 Annual B2B Upstream Oil & Gas event, which will bring together the senior decision makers from across the prolific West Africa region to discuss the trends and challenges currently facing the Oil and Gas industry.

Since the discovery by Tullow Oil in 2007 of the Jubilee Field in Ghana, the Upstream sector has refocused its efforts to explore similar plays around the entire West and North West African coast. These efforts were rewarded with Cairn Energy’s prolific discovery in 2014 followed by Kosmos’ in 2015. The West Africa region has the industry’s spotlight firmly focused on further unlocking the potential of this largely underexplored region.

Companies that will be looking toward further unlocking the deepwater hydrocarbon potential of West Africa include: PETROSEN, BP, Kosmos Energy, Cairn Energy, FAR, Total E&P, Premier Oil, Shell, Tullow Oil along with the Ministries and key solution providers.

 More info

read more >

The 27th World Gas Conference (WGC 2018)

The 27th World Gas Conference (WGC 2018) will be the largest, most timely and most significant global gas conference and exhibition ever held.

read more >

Oil and Gas 2018

The conference will cover a wide range of topics and allow participants to discuss about the new technologies developed in Petroleum…

read more >