Japan's JERA procures 2 mil mt spot LNG for extra winter supply

Japan's largest power generation company JERA has procured 2 million mt of spot LNG as additional winter supply for November to March 2022, a senior company official said Nov. 24.

"We have additionally procured all of the 2 million mt basically via JERA Global Markets," Takashi Noguchi, executive officer and head of the JERA optimization department's strategy group, told an online press briefing.

JERA intends to make additional LNG procurements "appropriately" should there are changes in its supply-demand outlook beyond January, Noguchi said, adding that all its additional procurements were spot cargoes, including from North America.

JERA's winter additional LNG procurements came to light after JERA President Satoshi Onoda said Oct. 21 that the company would "maximize efforts" like it did last winter, when it procured 3 million mt of spot LNG, in order to ensure stable electricity supply this winter.