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Tokyo Gas and Korea Gas sign LNG MoU

LNG Industry,

Tokyo Gas has signed a memorandum of understanding (MoU) on strategic collaboration with Korea Gas Corp. to enable further cooperation and communication between the two companies.

The two companies have maintained a close relationship through information and technology exchange since 1990, the date of their first MoU.

“By signing the new MoU, Tokyo Gas seeks an opportunity to establish and enhance a strategic partnership with Korea Gas Corp.,” a statement from the company read.

Areas of collaboration could include the following:

  • Optimisation of LNG inventory and/or owned or chartered shipping capacity.
  • Joint LNG procurement from suppliers in the mid to long-term.
  • Upstream project investment opportunity.

In its “Challenge 2020 Vision,” Tokyo Gas publicised its targets, including the reduction of raw materials prices and the realisation of appropriate Asian market prices. With these goals in mind, Tokyo Gas will accelerate collaboration with LNG buyers inside and outside Japan.

Adapted from press release by Ted Monroe

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