Shizuoka Gas signs LNG sale, purchase agreement with Shell
Shizuoka Gas Co. Ltd. has entered into a sale and purchase agreement (SPA) with Shell Eastern Trading Ltd. for the liquefied natural gas (LNG) reloaded at the Shimizu LNG terminal.
Shizuoka Gas has been seeking further utilizations of the Shimizu LNG terminal to achieve the reduction of LNG cost in the newly deregulated gas market. As one of its initiatives, the company converted the Shimizu LNG terminal into a bi-directional terminal by adding reloading facilities in April.
The first reload cargo will be shipped to Shell Eastern on a free-on-board basis (FOB) in 1Q 2017.
The company said it would aim to lower LNG procurement costs by boosting trading volumes and liquidity.
This is the company’s first binding contract to supply LNG through the LNG terminal.
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