Japan signs first LNG emergency supply deal with Malaysia's Petronas
· CNA · JoinRead a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST
TOKYO: Japan signed its first deal to procure liquefied natural gas in an emergency with Malaysia's Petronas, Japan's industry ministry said on Friday (Sep 11), adding the country would seek similar agreements with other countries.
The master sales and purchase agreement would enable Petronas to deliver LNG to the Japan Organization for Metals and Energy Security, which would in turn supply private buyers, such as utilities, if they were unable to obtain it elsewhere.
Speaking at a press conference after the LNG Producer-Consumer Conference in Tokyo, Tetsuya Azuma, a director of the Japanese ministry's energy resources development division, did not give further details, such as the volume or contract length.
Petronas Executive Vice President and CEO of gas & maritime business, Datuk Adif Zulkifli, said the deal reflected the trust built up with JOGMEC "over many years".
CNA Games
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
Show More
Show Less
"By establishing a more agile framework for future LNG supply arrangements, we are better positioned to respond to evolving energy needs and contribute to greater supply resilience," he said in a statement.
Japan also signed a memorandum of cooperation with Montenegro on energy projects, including developing an LNG receiving terminal and gas-fired power plant.
The outline deal builds on a memorandum of understanding JERA, Japan's largest power generation company, signed last year with the Montenegrin government to explore the development of an LNG terminal and an associated gas-fired plant in the country.
Azuma said the new memorandum aimed to support private-sector initiatives to help expand the global market and further Japan's efforts to diversify sources of LNG supply.
Newsletter
Week in Review
Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Newsletter
Week in Review
Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app