Jera Co. Inc., Japan’s largest power producer, has secured three LNG cargoes to ensure winter demand is met through February 2024 in a purchase made as part of the government’s plan for a strategic reserve of the super-chilled fuel. 

Previously, only commercial stocks of liquefied natural gas were held in Japan. Now, like the country’s strategic oil reserves, the Ministry of Economy, Trade and Industry’s (METI) “Strategic LNG Buffer” would keep gas stocks in government-owned and private facilities. 

“This buffer plan is sensible,” said Poten & Partners’ Jason Feer, global head of business intelligence.  

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