Japanese Utility Hokuriku Electric to Buy LNG from Malaysia

Japanese regional utility Hokuriku Electric Power Co on Thursday announced signing of LNG purchase agreement with Malaysia LNG.

Hokuriku Electric has agreed to buy 380,000 tons of LNG a year from Malaysia, supply of which will begin from the fiscal year beginning in April 2018, it said in a statement.

The LNG will be regasified for use in Hokuriku Electric's first gas-fired plant in Tokyo, which is scheduled to start operations from November 2018, news agency Reuters quoted a company spokesman as saying, confirming it was also the first LNG agreement.

Petronas owns 90 percent stake in Malaysia LNG while Malaysia's Sarawak State Government and Japan's Mitsubishi Corp hold 5 percent each.