Japanese Kansai to Set Up Singapore LNG Trading Unit
Japanese utility Kansai Electric Power has decided to establish KE Fuel Trading Singapore which it said would help in “strengthening procurement and sales of LNG.” The new company will come into existence in April and would handle most of Kansai’s spot contracts in the future, the company said March 27.
Kansai stated that the role of spot contracts has become increasingly important as it provides the flexibility to respond adequately to changes in demand.
Big Asian LNG buyers, especially Japan, have been striving to get a better a bargain in the global LNG market. Japanese joint venture Jera recently inked a memorandum of understanding to pool resources with Kogas and Chinese Cnooc relating to LNG.
Shardul Sharma