Japan's TEPCO, Chubu Launch Joint LNG Tender

Japanese utilities, Tokyo Electric Power Co and Chubu Electric Power Co, are holding an international tender for LNG, news agency Reuters reported Wednesday citing one of the utilities.

This is the first time two Japanese companies have jointly requested bids to supply LNG, a Tokyo Electric spokesman said adding the joint tender would reduce procurement costs.

The companies sent out invitations for bids to about 60 LNG suppliers globally on Dec. 12, the Tepco spokesman said, reported Reuters. Bids are due by Friday and the utilities will decide on the suppliers in January.

According to the news agency, details about the volume and price were not disclosed.