Japan’s Inpex and Kyushu Electric are joining forces with Thailand’s PTT International Trading to work on optimizing their LNG trade.
The three firms have signed a memorandum of understanding on October 19, according to statements by Inpex and Kyushu Electric.
Under the memorandum, the partners have agreed to cooperate in optimizing each company’s LNG operations to ensure their supplies during emergencies, such as during the winter peak season.
This includes jointly operating their vessels, collaboration in LNG trading, and overseas business development related to LNG, according to the statements.
Inpex and Kyushu did not provide any additional information.
Platts reported, citing an Inpex spokesperson, that the partners have agreed to jointly consider spot cargo procurements and swap cargoes, as well as using LNG reload and storage facilities in Japan and Thailand to optimize their LNG stocks during emergencies.
The companies would also look at accepting partners’ LNG cargoes at their import terminals for swaps and reloads, the agency said.