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Jera Co. holding discussions with KOGAS and CNOOC

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LNG Industry,

According to Reuters, Japan’s Jera Co. is currently holding discussions with South Korea’s Korea Gas Corp. (KOGAS), as well as China National Offshore Oil Corp. (CNOOC). The talks are regarding the creation of an alliance that would offer the companies greater leverage in order to develop more flexible LNG contracts. Reuters reports that a Jera spokesman claimed that an agreement may be reached in a several days.

Whilst the alliance’s purpose is largely to share market challenges – including LNG shipment restrictions related to destinations, and inflexible arrangements, including the periodic taking of deliveries – it would also consider the joint procurement of LNG, as well as joint investment in upstream developments. Nonetheless, Reuters reports that the Jera spokesman claimed that any agreements regarding the latter are unlikely to come to fruition soon.

Edited from various sources by David Rowlands

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