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|Japan's Tohoku Electric Power Signs Deal to Purchase Mozambiquan LNG|
|= 1st SPA deal for Japanese buyers, purchase volume to be up to 0.28 mtpa =|
Japan-based Tohoku Electric Power Company announced on 15th it has entered into an LNG sale and purchase agreement (SPA) with a Mozambique-based LNG production project, which is the first SPA deal with the project for Japanese buyers. This contract, also the first long-term LNG purchase deal for the Company with African countries, includes terms on flexible procurement volume based on the future demand/supply balance and will enable the Company to diversify procurement sources.|
According to the announcement, it signed the deal with Mozambique LNG1 on 12th. Pursuant to the deal, it produces up to 0.28 mtpa of LNG on a DES basis over the course of 15 years from production start date that is expected to be in the early 2020s. Both companies inked a memorandum of understanding (MOU) on LNG trade on December 15th, 2017 and have been discussing details.
Mozambique LNG1 is invested by the project operator Anadarko Petroleum (26.5%), Japan's Mitsui & Co. (20%), Mozambiquan state-run ENH (15%), India's state-run ONGC (16%), Bharat Petroleum (10%), Thailand's PTT (8.5%), and Oil India (4%).
They plan to construct a 12.88-mtpa LNG production/export terminal consisting of two 6.44-mtpa gas liquefaction units in the early 2020s.
|last modified : Mon 22 Oct, 2018 [11:10]|