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Centrica signs MoU with Tokyo Gas

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LNG Industry,

Centrica has released a statement claiming that it has signed a memorandum of understanding (MoU) with Tokyo Gas Co Ltd, establishing an alliance between the two companies in their LNG related activities.

Centrica claims that the MoU sets out a framework under which both parties will cooperate to optimise contracted volumes from both Atlantic and Asia Pacific markets through location swaps, which would result in LNG transportation savings and decrease the overall cost of LNG procurement. Both companies plan to sign a legally binding contract based on this framework.

Jonathan Westby, Centrica’s Co-Managing Director of Energy, Marketing & Trading, said: “We are delighted to formalise our long-standing relationship with Tokyo Gas and we welcome the opportunity to expand our LNG activities in Asia Pacific. Building alliances, such as this, helps towards lowering LNG procurement costs and this can benefit customers around the world.”

The Executive Officer of Tokyo Gas, Kentaro Kimoto, added: “I am hoping that the global LNG market will be activated by flexible LNG diversion across Pacific and Atlantic regions under our collaboration with Centrica. Through initiatives like this opportunity, we will make further efforts to lower LNG procurement cost in order to enhance our customer value.”

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