JERA Co., Inc. (“JERA”) is pleased to announce that it has entered into a Memorandum of Agreement (“MOA”) with Abu Dhabi Gas Liquefaction Company Limited (“ADNOC LNG”) for the sale and purchase of LNG.

JERA plans to purchase up to 8 cargoes per annum of LNG from ADNOC LNG for a period of three years beginning in 2019.

This MOA is in line with the Japan Fair Trade Commission ruling, issued in June 2017. JERA believes this will contribute to its ability not only to respond to fluctuations in LNG demand, but also to optimize its LNG operations.

JERA will continue to focus on building and maintaining an optimal LNG procurement portfolio that enables economical and competitive procurement, as well as flexibility to respond to changes in the business environment.

About JERA

JERA is an energy company with global reach that has strength in the entire energy supply chain, from participation in LNG and other fuel resource projects and fuel procurement, through fuel transportation to power generation. Established in 2015, JERA is an equal joint venture of two major Japanese electric companies, TEPCO Fuel & Power Incorporated and Chubu Electric Power Company. JERA’s mission is to supply power and energy on a globally competitive basis, by effectively developing and managing its portfolio of energy chain assets and continuously optimising its business.

About the Abu Dhabi National Oil Company (ADNOC)

ADNOC is one of the world’s leading oil and gas companies and is fully owned by the government of the Emirate of Abu Dhabi. The company was founded in 1971 and is active in all areas of the oil and gas industry.
It has 17 specialized subsidiaries and joint ventures operating in both upstream and downstream sectors. The ADNOC Group is active in the United Arab Emirates and across the whole world and produces more than 2.7 million boe a day. In the past few years, significant achievements were made in the expansion of the development of gas fields to meet the increased demand from industry gas users; and gas injection requirements in order to enhance the oil and condensate recovery from the producing fields.
While carrying out all its business activities, ADNOC is committed to sustainable development, ensuring a harmonious balance between people’s needs and Earth’s resources, adhering to the best international practices and supporting all programs and initiatives of environment protection while its track record in HSE sets the standard not only at the regional Gulf level but at the international level as well.