General – LNG
Korea Gas Corp. has signed a Memorandum of Understanding (MOU) with Japan’s biggest liquefied natural gas (LNG) buyer, JERA, to strengthen cooperation on LNG supply and demand management.
Under the agreement, KOGAS and JERA — the world’s two largest LNG buyers — agreed to deepen practical cooperation to bolster energy security by ensuring stable and efficient LNG supply management.
The two companies will establish a framework to optimize LNG shipping and terminal operations, including discussions on supply and demand trends and the exploration of additional LNG cargo swaps to improve logistical efficiency across their terminal networks.
The companies also plan to hold regular meetings to discuss detailed supply and demand coordination measures and joint response strategies during potential supply disruptions.
A KOGAS official said the company is strengthening its readiness for possible energy supply disruptions stemming from rising geopolitical tensions, including a potential blockade of the Strait of Hormuz.
