TOKYO: Japan's JERA, one of the world's biggest buyers of liquefied natural gas , expects to divert more of its LNG trade volume to other Asian countries in the long run, as demand weakens at home, an official said.
Looking ahead, the company's transaction volumes"may decline or may stay the same," Yukio Kani, JERA's new global chief executive officer and chairman, told Reuters in an interview. Japan's biggest utility and top LNG buyer, JERA bought a stake of 27 per cent in Aboitiz Power of the Philippines in 2021 and Aboitiz is considering using ammonia in existing coal power plants, just as JERA is doing, Kani said.Last December, JERA signed a key deal with Oman LNG to buy up to 12 cargoes, or about 800,000 tonnes a year for a decade, beginning from 2025.