LNG Spot Sales to Hokkaido Electric Power
9 May 2019
TOKYO – 9 May 2019 – JERA Co., Inc. (“JERA”) and JERA Global Markets Pte. Ltd. (“JERAGM”) are pleased to announce that JERAGM has concluded a transaction to sell its first LNG cargo to Hokkaido Electric Power Co., Inc. (“Hokkaido Electric Power”) in June this year.
Through this transaction, JERAGM provided Hokkaido Electric Power with the flexibility to change the delivered volumes of LNG at short notice from a full cargo to a partial cargo, together with other bespoke terms and conditions that support the balancing of Hokkaido Electric Power’s LNG consumption.
JERA and JERAGM believe that increased flexibility from LNG sellers is an important part of managing fluctuations in LNG supply and demand within the Japanese energy markets, and together they are committed to supporting this change for their own portfolios, and the portfolios of their customers.
JERA is an energy company with global reach that has strength in the entire energy supply chain, from participation in LNG and other fuel resource projects and fuel procurement, through fuel transportation to power generation. Established in 2015, JERA is an equal joint venture of two major Japanese electric companies, TEPCO Fuel & Power Incorporated and Chubu Electric Power Company. JERA’s mission is to supply power and energy on a globally competitive basis, by effectively developing and managing its portfolio of energy chain assets and continuously optimising its business.
JERA Global Markets is a leading utility-backed seaborne energy trader specialising in LNG, coal and freight with a platform to trade across all key markets worldwide. We operate one of the largest seaborne energy portfolios in the world which gives us an in-depth understanding of the way local, regional and international energy markets behave. These insights enable us to help our customers increase security of supply, optimise their portfolios and improve the risk management of their assets.