Japan trading house enters US LPG export project

摘要

Tokyo—Japanese trading house Itochu has taken a stake in a North American LPG project as Japan and neighbor South Korea look to step up LPG imports from the US in an effort to diversify supply sources and pricing benchmarks. Itochu has signed a joint development agreement with Coastal Caverns, a wholly owned subsidiary of Vitol, which will see it take a 34% stake in the Beaumont LPG project in Texas, the company announced February 27.