JERA Establishes Singapore Subsidiary to Diversify LNG Sales
JERA, a Japanese energy group, has established a new subsidiary in Singapore to diversify its liquefied natural gas (LNG) sales. JERA Global Energy Solutions (JERA GES) will focus on strategy, portfolio management, origination, shipping, and long-term sales of LNG for the company.
The new entity aims to safeguard Japan's energy security while developing international commercial outlets. According to Irtiza H. Sayyed, CEO of JERA GES, growing renewable production will accentuate variations in residual demand directed at thermal power plants.
JERA has signed a long-term LNG supply agreement with Indian buyer Torrent Power, its first outside the Japanese market. This contract allows for consistent use of the company's fleet and contracted volumes, taking advantage of periods of high consumption in India that coincide with lower demand in Japan.