Three Japanese companies ink LNG transportation deal
Hiroshima Gas Co., Tokyo Gas Co. and Tokyo LNG Tanker Co. have signed an LNG transportation agreement.
Under the agreement, some of the LNG procured by Hiroshima Gas and Tokyo Gas from Sakhalin, Russia will be transported at the same time on LNG carriers owned and managed by Tokyo LNG Tanker for a period of eight years from FY2020 to FY2027. The agreement was made possible with the cooperation of Sakhalin Energy Investment Company Ltd., a long term supplier of Hiroshima Gas and Tokyo Gas. This agreement enables Hiroshima Gas to enhance its efficiency of LNG transportation and reduce its transporting costs.
Tokyo LNG Tanker transports LNG other than that of the Tokyo Gas Group by utilizing its LNG fleet that it owns and manages. This agreement is the third such case, but is the first initiative to carry LNG of multiple owners at once, and enables further utilization of the LNG carriers that Tokyo LNG Tanker owns and manages.
Hiroshima Gas and Tokyo Gas will further deepen the partnership with the conclusion of this agreement, and the two companies will aim to realize a low-cost and stable supply of energy that will benefit customers of both companies.