Jera Co. Inc., one of the world’s largest LNG buyers, has secured a 15.1% stake in Woodside Energy Group Ltd.’s Scarborough project as it continues to look for stable long-term supply for Japanese power production. Under the transaction, valued at $1.4 billion, Jera would obtain a non-operating interest in the Scarborough partnership and offtake an…
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Japanese Offtakers Ask FERC for ‘Timely’ Authorization Decision for CP2 LNG
Some of Japan’s largest LNG players are voicing concern about the timeline of FERC’s authorization decision on Venture Global Inc.’s Calcasieu Pass 2 (CP2) LNG project as they try to balance the country’s long-term natural gas supply outlook. The CEOs of Inpex Corp. and Jera. Co. Inc. have penned letters to the Federal Energy Regulatory…
Over One-Third of CP2 LNG Capacity Under Contract After Venture Global Signs Up Jera
Jera Co. Inc. has signed on as an offtaker from Venture Global LNG Inc.’s CP2 export project under development in Cameron Parish, LA. Jera, Japan’s largest power company, has agreed to buy 1 million metric tons/year (mmty) of liquefied natural gas from CP2. Jera would buy the super-chilled fuel for a term of 20-years on…
FERC Clears Freeport to Restart Final Liquefaction Train – The Offtake
FERC has authorized Freeport LNG Development LP to restart service on its final train. The Federal Energy Regulatory Commission on Wednesday cleared the company to commission, cooldown and restart liquefaction on Train 1.
Global Natural Gas Prices Continue Trading Sideways – LNG Recap
Global natural gas prices were muted on Monday as Europe’s Title Transfer Facility (TTF) continued trading sideways, the Japan-Korea Marker (JKM) followed and prices in the United States remained at some of the lowest levels in years. Fundamentals are largely unchanged. TTF traded in a stable range at just under $20/MMBtu last week, but increased…
Jera Inks Tentative Agreements for Ammonia Offtake, Gulf Coast Hub Fueled by Natural Gas
Jera Co. Inc., Japan’s leading power producer and one of the world’s top buyers of LNG, has signed two tentative agreements for ammonia supply that include exploring plans for a Gulf Coast production facility fed by low-carbon natural gas. Jera disclosed Monday memorandums of understanding (MOU) with a unit of Yara International ASA and CF…
Japan Preparing for Next Winter as LNG Inventories Remain Strong and Colder Weather Nears
Japan, one of the world’s leading LNG buyers, is shifting its focus on securing energy supplies to next year as its inventories have been boosted by lower demand and the market is expected to become increasingly tight as Europe continues replacing Russian natural gas imports. “Winter of 2023 is looming on many buyers’ minds, as…
Japanese Natural Gas Buyers Meet with U.S., State Officials Over Alaska LNG Project
Some of the largest Japanese offtakers of U.S. LNG met with federal and Alaskan officials during a summit in Japan to discuss developing an export project that could connect North Slope natural gas to a supply-short Asian market. At a summit convened in Tokyo by U.S. Ambassador to Japan Rahm Emanuel, Sen. Dan Sullivan (R-Alaska)…
Japan’s Jera Renews Contract for Russian LNG Project Amid Asian Price Surge
Jera Co. Inc., the world’s largest importer of LNG, has renewed its offtake contract for Russia’s recently nationalized Sakhalin-2 natural gas project ahead of a Kremlin-imposed deadline. The Japanese joint venture between Tokyo Electric Power Co. and Chubu Electric Power Co. In. confirmed to multiple media outlets Friday it has signed a deal to continue…
Japan Looks to Restart Nukes to End Russian LNG Reliance
Japan expects to reduce its reliance on Russian liquefied natural gas (LNG) imports, but it’s unlikely to happen quickly, officials said. The Group of Seven (G-7), an inter-governmental political forum, has been considering ways to punish Russia following its invasion of Ukraine. The G-7 consists of Canada, France, Germany, Italy, Japan, the UK and the…