Tokyo Gas and Kansai Electric agree co-operation

摘要

Japan’s largest gas firm, Tokyo Gas, and its second-biggest electricity producer, Kansai Electric Power, have agreed a co-operation deal covering LNG imports and gas-fired power plant technology, as part of efforts to build a strategic alliance. The two companies have agreed to set up a framework to swap LNG cargoes and accommodate one another’s supply and demand needs, with a view to future imports from the 5.75mn t/yr Cove Point LNG project in the US. Tokyo Gas and Kansai have 20-year deals to import 1.4mn t/yr and 800,000 t/yr of LNG, respectively, from Cove Point, which is expected to start operating in late 2017. The firms already co-operate on LNG import operations from projects including Australia’s 4.3mn t/yr Pluto LNG plant. They import around 11mn t/ yr of LNG each.