CANADA'S LNG FOR JAPAN

REUTERS - Japan's JERA, the world's top buyer of liquefied natural gas, on Tuesday said it had signed an agreement with a Mitsubishi Corp unit to buy up to 16 cargoes, or 1.2 million tonnes per annum (mtpa), of LNG from the LNG Canada project.

The heads of agreement (HOA) signed between JERA and Diamond Gas International is for about 15 years from the business year starting from April 2024, said JERA, a joint venture between Tokyo Electric Power and Chubu Electric Power.

The deal will be the first time JERA procures LNG from Canada, it said in a statement.

JERA also said that the agreement was in line with the Japan Fair Trade Commission ruling in June 2017, which declared so-called destination restriction clauses to be anti-competitive and called for destination flexibility in LNG contracts.

The C$40 billion ($30 billion) LNG Canada project led by Royal Dutch Shell was given the go-ahead by the Anglo-Dutch giant and its partners in October last year, making it the fuel's first major new project to win approval in recent years.

Buyers from the project so far include trading house Vitol as well as Asian utilities such as Tokyo Gas, Toho Gas and Korea Gas Corp (Kogas).

-----

Earlier:

2019, April, 5, 10:10:00 JAPAN'S RENEWABLE WILL UP JERA Co, Japan’s biggest power generation company, plans to increase its renewable energy investment to 5 gigawatts (GW) of capacity by 2025, up from 650 megawatts now and an increase over an earlier target of 3 GW, it said on Tuesday

2019, March, 15, 10:30:00 LNG U.S. ACCELERATION Exports of liquefied natural gas (LNG) from the U.S. continue to rise, as the use of natural gas for power generation increases in countries such as China, South Korea, Japan, and Mexico.

2019, February, 11, 10:35:00 RUSSIA SANCTIONS ISN'T OBSTACLE PLATTS - "Imports of Russian crude oil and LNG do not go through any chokepoints such as the Strait of Hormuz. Therefore they are important for the diversification of Japan's energy import sources, and I hope that Russia will play an even larger role. I would like to continue working to expand our cooperation," Seko said.

2019, February, 8, 11:30:00 AUSTRALIA'S LNG UP PLATTS - LNG exports from Australia's east coast rose 9% month on month to 1.93 million mt in January, buoyed by strong sales to China and Japan, data from the Gladstone Ports Corporation showed Thursday.

2019, January, 14, 11:25:00 RUSSIAN LNG FOR ASIA BLOOMBERG - Russia’s Novatek PJSC is looking at storing liquefied natural gas produced in the Arctic on Japan’s southern island of Kyushu so it can better meet spot demand from China and cut shipping costs.

2018, October, 12, 11:10:00 JAPAN BUYS LNG CANADA PLATTS - Tokyo Gas will purchase up to 0.6 million mt/year from LNG Canada for a period of 13 years from April 2026 to March 2039, delivered on an ex-ship basis with destination flexibility, Tokyo Gas added.

2018, September, 12, 12:05:00 RUSSIAN LNG FOR JAPAN PLATTS - Putin said the LNG sector in particular was a key focus area for future cooperation, noting that Japanese companies may take part in the planned expansion of Sakhalin 2, Arctic LNG 2 and Baltic LNG projects as well as an LNG transshipment facility in Kamchatka. Русский | English