JERA has established JERA Oil Storage, a dedicated operating company to manage national petroleum stockpiling bases currently operated by JERA and its affiliated subsidiaries under a joint contracting arrangement with Japan Organization for Metals and Energy Security.
JERA currently operates four national petroleum stockpiling basis – Tomakomai-Tobu, Akita, Fukui and Shibushi – with its decision to create a separate business for activities based on the desire ‘to further enhance safe and stable operations and ensure the transfer and advancement of operational expertise’. JERA and JERA Oil Storage will conclude an absorption-type company split agreement by the end of 2026, with the business expecting to be transferred to JERA Oil Storage by April 2029.
In its press release, JERA says: ‘The JERA Group will continue contributing to Japan’s energy security and energy stability through its operation of national petroleum stockpiling bases by working both to ensure their safe and efficient management and to maintain a system for the timely and efficient release of petroleum in times of emergency.’
