Conclusion of a heads of agreement with Saibu Gas regarding the Sale and Purchase of Liquefied Natural Gas

abarrelfullabarrelfull wrote on 02 Sep 2011 08:00
Tags: japan lng tokyo-gas

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Tokyo Gas, Co., Ltd. (President: Tsuyoshi Okamoto; head quarters: Minato-ku, Tokyo; "Tokyo Gas" hereinafter) is pleased to announce today the signing of a heads of agreement regarding the sale and purchase of liquefied natural gas (LNG) with Saibu Gas Co., Ltd. (President: Yuji Tanaka; head quarters: Hakata-ku, Fukuoka; "Saibu Gas" hereinafter).

Under the agreement, Tokyo Gas will supply Saibu Gas with LNG for a period of 16 years extending from FY2014 to FY2029. The LNG supplies to Saibu Gas will come from LNG projects with which Tokyo Gas has entered into contracts. The agreement represents a convergence of interests between Tokyo Gas, which seeks to increase long-term, stable sales of LNG, and Saibu Gas, which seeks to establish more stable supply of LNG in accordance with the commencement of “Hibiki LNG terminal”, which is now under construction in the Hibiki-nada district, Kitakyusyu city.

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