Jera and EDF expand LNG trading JV to include Japanese power trading

Japan’s Jera and France’s EDF have agreed to expand their LNG and coal trading joint venture, Jera Global Markets, to include Japanese power trading.

According to a joint statement on Thursday, the respective Japanese power trading businesses of JERA and EDF Trading, a part of EDF, will be merged to operate alongside Jeragm’s global trading and optimisation business.

Jera, the joint venture of Tokyo Electric and Chubu Electric, has 66.67 percent in Jeragm, and EDFT holds 33.33 percent.

In April 2019, Jera and EDFT merged their LNG trading and optimization activities.

Headquartered in Singapore, Jeragm has a fleet of chartered LNG carriers, and its gross executed LNG trade volume reached about 46 million tons in fiscal year 2023, according to its website.

The two firms said this power trading integration strengthens the long-standing cooperation between the partners, which was established in 2008,

Moreover, it draws from the complementary roles of Jera, as a leading utility in Japan, and EDFT’s in-depth knowledge and experience of the power markets in Europe and North America.

This transaction will take effect from April 1, 2025.

The business will operate out of the Coredo Nihonbashi building in Tokyo with a team of over 50 diverse and experienced professionals driving and supporting the business, the statement said.

“We have entered into a new chapter of this enduring and collaborative relationship with EDF Trading which commenced with coal and LNG trading,” said Kazunori Kasai, chief optimisation officer of Jera and chairman, Jeragm.

Also, Kasai said power trading is “strategically aligned with the global trade of fuels and we are confident the synergies of these businesses will contribute to the revitalisation of the domestic power market in Japan.”

Most Popular

BP takes FID on Ginger gas project in Trinidad and Tobago

UK-based energy giant BP has taken the final investment decision on the Ginger gas development offshore Trinidad and Tobago.

Glenfarne becomes majority owner of Alaska LNG

US energy firm Glenfarne has signed definitive agreements with state-owned Alaska Gasline Development Corporation to become the majority owner of the giant Alaska LNG export project.

Japan’s Tokyo Gas to expand LNG trading business

Japan’s city gas supplier and LNG importer, Tokyo Gas, plans to expand its liquefied natural gas trading business further, including in the US.

More News Like This

Japan’s Jera launches third LNG unit at Goi power plant

Japan’s Jera has launched the third and final new LNG unit at its Goi thermal power plant in Chiba as part of a replacement project.

Adnoc Gas, Jera Global Markets seal $450 million LNG supply deal

Jera Global Markets, a joint venture between majority shareholder Japan’s Jera and France’s EDF, and Adnoc Gas announced the...

Celsius, Jera seal charter deal for newbuild LNG carrier

Celsius revealed the charter deal on Wednesday, but it did not provide further information regarding the contract. VesselsValue data suggests...

MOL and Jera pen new charter deal for newbuild LNG carrier

MOL said in a statement on Wednesday it has signed the long-term charter deal with a vessel operation management...