16-04-2024

EMA and JERA to cooperate on LNG procurement and supply chains

The Energy Market Authority and JERA Co Inc, have signed a Memorandum of Understanding to cooperate on mutually beneficial areas in liquefied natural gas procurement and supply chains for Singapore and Japan.

Under the MoU, EMA and JERA will share best practices and knowledge in LNG procurement and management of LNG supplies as well as explore collaboration opportunities in LNG procurement and supply chain management.

Mr Soh Sai Bor, Assistant Chief Executive, EMA, said, “Natural gas will continue to be a major part of our energy mix even as we pivot to and scale up lower carbon sources in the medium to longer term. EMA is pleased to partner JERA to mutually strengthen our LNG supply chains. This is another step forward in Singapore’s efforts to enhance the security and reliability of natural gas supply with stable and competitive pricing for our power sector in our energy transition.”

Mr. Ryosuke Tsugaru, Senior Managing Executive Officer and Chief Low Carbon Fuel Officer, JERA, said, “This MoU signifies our shared commitment to strengthening energy security and fostering mutual cooperation in LNG procurement and optimisation between JERA and Singapore. Through this MoU, JERA and EMA will seek to establish a more stable, resilient, and cost-efficient energy flow into both Japan and Singapore leveraging their mutually complementary relationship.”

This MoU between EMA and JERA follows the spirit of an earlier Memorandum of Cooperation on LNG Cooperation and Energy Transitions signed in October 2022 between the Ministry of Trade and Industry of Singapore and the Ministry of Economy, Trade and Industry of Japan. Both Memorandums aim to further strengthen the partnership between Singapore and Japan.