JERA Co., Inc. (“JERA”) is pleased to announce that it has entered into a Memorandum of Agreement (“MOA”) with Abu Dhabi Gas Liquefaction Company Limited (“ADNOC LNG”) for the sale and purchase of LNG.
JERA plans to purchase up to 8 cargoes per annum of LNG from ADNOC LNG for a period of three years beginning in 2019.
This MOA is in line with the Japan Fair Trade Commission ruling, issued in June 2017. JERA believes this will contribute to its ability not only to respond to fluctuations in LNG demand, but also to optimize its LNG operations.
JERA will continue to focus on building and maintaining an optimal LNG procurement portfolio that enables economical and competitive procurement, as well as flexibility to respond to changes in the business environment.
Outline of MOA
Seller: Abu Dhabi Gas Liquefaction Company Limited
Buyer: JERA Co., Inc.
Contract period: April 2019 to March 2022 (3 years)
Contract volume: Up to 8 cargoes per annum (Approx. up to 0.5 MTPA)
Delivery mode: DES
JERA Co. Inc. press release