Centrica and Tokyo Gas Co Ltd have signed a Memorandum of Understanding (MoU) to optimise the transport and procurement of liquefied natural gas (LNG) from Atlantic and Asia-Pacific markets.
The aim of the MoU is to establish an alliance between Centrica and Tokyo Gas in their LNG activities and will allow both companies to work together to increase volumes of LNG transported from the aforementioned markets through location swaps. This is expected to reduce the cost of transportation of the marine fuel and lower the overall cost of procurement.
Jonathan Westby, Centrica’s Co-Managing Director of Energy, Marketing & Trading commented: “We are delighted to formalise our long-standing relationship with Tokyo Gas and we welcome the opportunity to expand our LNG activities in Asia Pacific. Building alliances, such as this, helps towards lowering LNG procurement costs and this can benefit customers around the world.”
Kentaro Kimoto, Tokyo Gas’ Executive Officer added: “I am hoping that the global LNG market will be activated by flexible LNG diversion across Pacific and Atlantic regions under our collaboration with Centrica. Through initiatives like this opportunity, we will make further efforts to lower LNG procurement cost in order to enhance our customer value.”
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