Japan’s JERA has entered into a memorandum of understanding with PetroChina International, a unit of China National Petroleum Corporation, concerning cooperation in the LNG business.
Under the MOU, JERA and PCI will discuss opportunities to cooperate in the LNG business.
JERA said in its statement the pair will focus on generating new demand for LNG, including overseas LNG value chain investments, joint sale and procurement of LNG. LNG shipping optimization and LNG bunkering.
As LNG demand in China increases, the presence of Chinese energy companies in the LNG industry is growing year by year.
JERA believes that strengthening its cooperation with PCI, a leading energy company in China, will not only expand business opportunities for both JERA and PCI but also contribute to the healthy development of the LNG industry.
JERA said it will continue to work together with LNG industry counterparts both within and outside Japan to strengthen its LNG business and to seek opportunities in an LNG market that is undergoing great change.