Jera to book $751mn loss related to Freeport LNG fire
Japan’s Jera on October 28 said it would book a 110bn yen ($751mn) loss in the year to March 31 related to the impact of the fire at the Freeport LNG terminal in the US.
Freeport LNG said in August it had completed a detailed assessment of restart options in the wake of a June 8 fire that shuttered the 15mn mt/yr facility in Texas, and now expects an initial restart in early to mid-November.
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For the April-September period, Jera, a joint venture between Tokyo Electric Power and Chubu Electric Power, reported a net loss of 131.5bn yen. Jera expects to book a net loss of 200bn yen for the full year due to the losses related to Freeport LNG.