JERA signs MoU with KOGAS
Published by Ellie Brosnan,
Editorial Assistant
Tanks and Terminals,
Under the MoU, the two companies will establish a framework to optimise LNG shipping and terminal operations. Areas of co-operation include discussing supply and demand trends and exploring cargo swaps to enhance portfolio flexibility and logistical efficiency across their LNG terminal networks.
The signing of the MoU was acknowledged in the presence of ministers from the Republic of Korea’s Ministry of Trade, Industry, and Resources and Japan’s Ministry of Economy, Trade, and Industry, reflecting the importance both governments place on strengthening regional energy co-operation.
As neighbouring energy-importing economies with large LNG demand, Japan and the Republic of Korea share a strong interest in enhancing supply resilience and flexibility across the region, including through closer operational co-ordination among major LNG buyers.
Amid rising geopolitical tensions and market uncertainties, global energy markets are becoming increasingly volatile. As energy demand across Asia continues to grow alongside ongoing decarbonisation efforts, LNG is expected to play an important role in ensuring reliable electricity supply and complementing renewable energy sources.
“As two of the world’s largest LNG importers, JERA and KOGAS share a strong commitment to ensuring reliable and efficient LNG supply across the region. In today’s increasingly complex energy landscape, closer cross-border collaboration among LNG-importing economies will play an important role in strengthening supply resilience and supporting energy security across the region,” said Yukio Kani, Global CEO and Chair of JERA.
Read the article online at: https://www.tanksterminals.com/terminals/17032026/jera-signs-mou-with-kogas/