EMA and JERA to cooperate on LNG procurement and supply chains2024/04/16

The Energy Market Authority (“EMA”) and JERA Co., Inc. (“JERA”) have signed a Memorandum of Understanding (“MoU”) to cooperate on mutually beneficial areas in liquefied natural gas (“LNG”) 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.

About the Energy Market Authority
The Energy Market Authority is a statutory board under the Singapore Ministry of Trade and Industry. Through our work, we seek to forge a progressive energy landscape for sustained growth. We aim to ensure a reliable and secure energy supply, promote effective competition in the energy market and develop a dynamic energy sector in Singapore. Visit www.ema.gov.sg for more information. 

About JERA
Established in 2015, JERA is an equal joint venture of two major Japanese electric power companies, TEPCO Fuel & Power Incorporated and Chubu Electric Power Company and produces about 30% of all electricity in Japan. JERA is an energy company with global reach that has strength in the entire energy supply chain, from participation in LNG upstream projects and fuel procurement, through fuel transportation to power generation. JERA, which stands for Japan’s Energy for a New Era, will take on the challenge of achieving net zero CO2 emissions from its domestic and overseas businesses by 2050 and is supporting an energy transition in an environmentally and socially responsible manner. 
For more details: https://www.jera.co.jp/english