LNG giant Jera to become one of the world’s largest coal traders

LNG giant Jera to become one of the world's largest coal traders

Japan’s Jera, one of the world’s largest buyers of liquefied natural gas (LNG), has finalized a deal signed back in October with France’s EDF under which it will take over the latter’s coal and freight trading business.

Jera Trading Singapore, a unit of Jera, aims to complete the acquisition by early April 2017.

As part of the deal, EDF will take a 33 percent stake in Jera Trading, while the Japanese company will hold the remainder of the business.

The deal will make Jera Trading one of the largest coal traders globally, with a major presence in both the Atlantic and Pacific basins and total physical coal sales of approximately 60 million tonnes per annum, LNG giant Jera said in a statement on Tuesday.

“Coal is an important part of the fuel mix in the global energy markets and the transaction considerably strengthens Jera’s competitive procurement and sales capabilities,” the company said.

Jera Trading will be managed from Singapore with an additional commercial hub in London that will run its Atlantic basin activities.

Ronan Lory, Chief Financial Officer of EDF Trading will become Managing Director of JERA Trading, while Bert van Druten, head of coal and freight trading at EDF Trading, will become head of all trading operations at JERA Trading.

Worth mentioning, Jera and EDF Trading signed a deal in May under which the Japanese company will sell up to 1.5 million tonnes of LNG to EDF Trading for delivery to European LNG terminals between June 2018 and December 2020.

Jera noted in today’s statement that the duo will further discuss developing wider collaboration platforms including LNG.

 

LNG World News Staff

Share this article

Follow LNG World News

Posted on December 21, 2016 with tags , .

Events>

<< Oct 2019 >>
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

Budapest LNG Summit 2019

The Budapest LNG Summit is a niche event focused on the up and coming LNG region of Central & Eastern Europe (CEE).

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >