Fuel energy company, JERA has announced that it has entered into a memorandum of understanding (MoU) with Korea Gas Corporation (KOGAS), regarding cooperation in the LNG business.
Under this MoU, for the sake of securing supply stability of LNG, JERA and KOGAS agreed to discuss opportunities for mutual collaboration in the LNG business including LNG swaps, trading, ship optimisation, and market view exchange.
Russia’s invasion of Ukraine has created a severe energy environment, such as the reduction of pipeline gas supply to Europe, and the uncertainty regarding global energy supply is drastically increasing. In response to these circumstances, under this MoU, JERA and KOGAS will strengthen their strategic relationship and consider developing schemes of cooperation regarding their LNG supply and demand, to enhance stable energy supply in Japan and Korea.
