Japan’s Tokyo Gas signed a deal with Kogas of South Korea to further enhance cooperation in the LNG business.
The possible areas of collaboration shall include, but are not limited to:
- Optimization of LNG inventory and/ or its owned or chartered shipping capacity;
- Joint LNG procurement from suppliers in the mid to long term; and
- Upstream project investment opportunity.
Tokyo Gas said in a statement that it has maintained a close relationship with Kogas through information and technology exchange since the first MoU signed between the two companies in 1990.
By signing the new MOU, Tokyo Gas seeks an opportunity to establish and enhance a strategic partnership with Kogas, it added.
“In its “Challenge 2020 Vision,” Tokyo Gas declared its targets to reduce raw materials prices and to realize appropriate Asian market prices. With these goals in mind, Tokyo Gas will accelerate collaboration with LNG buyers inside and outside Japan,” the statement said.
Press Release, September 25, 2014; Image: Tokyo Gas