JERA says the agreement was in line with the Japan Fair Trade Commission ruling in June 2017, which declared the destination restriction clauses to be anti-competitive and called for destination flexibility in LNG contracts.
徐蕾 摘译自 路透社
Japan's JERA to buy LNG from Abu Dhabi under smaller, shorter-term deal
Japan's JERA Co, the world's biggest liquefied natural gas (LNG) buyer, says it has entered into a sales and purchase memorandum of agreement on LNG supply with Abu Dhabi Gas Liquefaction Company Ltd.
The agreement is for smaller volumes and for a shorter period than its previous deal with the company .
JERA currently has a 25-year long-term LNG contract with Abu Dhabi expiring in March 2019, under which it buys 4.3 million tonnes per year.
JERA, a fuel joint venture of Tokyo Electric Power Co and Chubu Electric Power Co, said in a statement it would buy up to eight cargoes of LNG, or up to 0.5 million tonnes, per year of LNG for three years starting April 2019.
The shorter duration and smaller volumes in the new deal, highlight the changes that have occurred in the LNG market in the past few years.