Diamond Gas pens first LNG term deal with Chinese buyer as Japan’s demand declines

摘要

Mitsubishi Corporation’s subsidiary Diamond Gas International has signed a long-term LNG sales and purchase agreement (SPA) with the local distributor of Guangdong Energy Group, marking the Japanese firm’s first term LNG sales with a Chinese company. The long-term deal marks the latest push by Mitsubishi to tap China’s growing gas demand, with the firm’s trading arm having increased spot sales to Chinese buyers in recent years as demand wanes in its home market.