Japan’s power firm and LNG trader, Jera, has signed a memorandum of understanding with Singapore’s Energy Market Authority to collaborate on liquefied natural gas procurement.
Under the memorandum, EMA and Jera will “share best practices and knowledge in LNG procurement and management of LNG supplies as well as explore collaboration opportunities in LNG procurement and supply chain management,” Jera said in a statement.
Jera said this MoU follows the spirit of an earlier memorandum on LNG cooperation and energy transitions signed in October 2022 between the Ministry of Trade and Industry of Singapore and the Ministry of Economy, Trade and Industry of Japan.
Both memorandums aim to further strengthen the partnership between Singapore and Japan, it said.
Soh Sai Bor, assistant chief executive, EMA, said natural gas will “continue to be a major part of our energy mix even as we pivot to and scale up lower carbon sources in the medium to longer term.”
He welcomed the new partnership with Jera to mutually strengthen their LNG supply chains.
“This is another step forward in Singapore’s efforts to enhance the security and reliability of natural gas supply with stable and competitive pricing for our power sector in our energy transition,” he said.
Ryosuke Tsugaru, Jera’s senior managing executive officer and chief low carbon fuel Officer, said, “through this MoU, Jera and EMA will seek to establish a more stable, resilient, and cost-efficient energy flow into both Japan and Singapore leveraging their mutually complementary relationship.”
In February, Jera signed a similar memorandum on LNG cooperation deal with a unit of Indonesia’s state power company PLN.
According to its website, the joint venture of Tokyo Electric and Chubu Electric handles about 40 million tons of LNG annually, among the largest transaction volumes in the world.
