Japan's Jera to buy LNG from Malaysia

[TOKYO] Japan's Jera Co, a fuel joint venture of Tokyo Electric Power and Chubu Electric Power, said on Wednesday it has entered into a Heads of Agreement to buy up to 2.5 million tonnes per annum of liquefied natural gas (LNG) from Malaysia LNG Sdn Bhd.

Jera, the world's biggest LNG buyer, said it would buy LNG for three years from April 2018. Gas will be delivered on an ex-ship and free-on-board basis, the company said, adding that the deal's destination clause was in line with the guidance by Japan Fair Trade Commission earlier this year.

REUTERS