Japan’s Tohoku signs new 10 year LNG deal with Malaysia

Japan’s Tohoku Electric has signed a deal to buy about 370,000 tons per year of LNG from Malaysia LNG 2 project, the utility said Friday.

by: shardul

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Japan’s Tohoku Inks New LNG Contract With Malaysia

Japan’s Tohoku Electric has signed a deal to buy about 370,000 tons per year of LNG from Malaysia LNG 2 project, the utility said Friday.

The supplies are expected to commence in 2016 for a period of 10 years.

Under the existing 20-year contract that expires in March 2016, the Japanese utility has been buying half a million tons of LNG a year.

Japan has boosted imports of LNG since the Fukushima disaster in 2011 which led to shut down of nuclear stations.

The country imported record LNG in 2013. According to government, Japan imported 87.49 million tons of LNG last year.