Jera and Kogas launch initiative to reduce methane emissions

Japan’s Jera and South Korea’s Kogas, the world’s largest LNG buyers, have launched an initiative to reduce methane emissions in the LNG value chain.

The Coalition for LNG Emission Abatement toward Net-zero (CLEAN) is an initiative taken by LNG buyers, together with LNG producers, according to a statment by Jera issued on Tuesday.

This move follows a memorandum of understanding the two firms signed in April to strengthen their strategic relationship and cooperate in LNG supply.

Both companies recognize LNG as a transition energy for a decarbonized society, and believe that efforts to reduce GHG emissions in LNG value chain will become more important in the future, the statement said.

With the support of the governments of Japan, the United States, and South Korea, and JOGMEC, the two firms said they will work to “increase the visibility of methane emissions through dialogue with LNG producers, and to develop and disseminate best practices to reduce methane emissions.”

Jera, a joint venture of Tepco and Chubu Electric, is Japan’s largest power producer and handles about 40 million tons of LNG annually, according its website.

On the other hand, Kogas operates 77 LNG storage tanks at five LNG import terminals in South Korea.

Japan was the largest LNG importer last year, despite a 2.9 percent drop year-on-year, and received about 72.16 million mt of LNG, while South Korea was the third largest importer after China, and the country’s LNG imports rose slightly to about 47.1 million mt of LNG in 2022, GIIGNL data shows.

- Advertisements -

Most Popular

Spark: spot LNG shipping rates climb to almost $200,000 per day

Spot charter rates for the global liquefied natural gas (LNG) carrier fleet continued to rise this week as the...

Chevron: strike ends at Gorgon and Wheatstone LNG terminals

Unions representing Chevron's workers at the Gorgon and Wheatstone LNG export terminals in Western Australia have on Friday decided...

Japan’s MOL orders more LNG-powered car carriers

Japan’s shipping giant MOL has ordered two more LNG-powered car carriers at compatriot Nihon Shipyard. A spokesperson for MOL confirmed...

More News Like This

South Korea’s Kogas reports higher sales in August

South Korean LNG importing giant Kogas reported slightly higher gas sales in August compared to the same month last...

Jera, Uniper ink non-binding ammonia supply deal

Japan’s LNG trader and power firm, Jera, has signed a heads of agreement with German energy firm Uniper to...

Kogas reports lower sales in July

South Korean LNG importing giant Kogas reported lower gas sales in July compared to the same month last year. Kogas...

Jera’s Indonesia unit launches operations

Japan’s LNG trading giant and power generation firm, Jera, said that its unit in Indonesia has started full-scale operations. Jera...