Japan Resells Australian Gas Amid Domestic Shortage
Japan's largest LNG importer and power producer, JERA, is reselling Australian liquefied natural gas (LNG) to global markets. According to Irtiza Sayyed, CEO of JERA Global Energy Solutions, the company plans to sell excess gas supply if domestic demand is low.
JERA wants to 'identify additional markets where we can sell,' Sayyed said in an interview with Bloomberg. The new subsidiary, JERA Global Energy Solutions, will be a vertically integrated LNG company that can quickly respond to market needs while maintaining security of supply for Japan as its highest priority.
In related news, Mitsui OSK Lines, a top Japanese shipping firm, doesn't expect LNG shipments through the Strait of Hormuz to resume soon. This could lead to elevated prices and reduced demand across Asia.