Japan Imports First Shale LNG | Russell T. Rudy Energy LLC
Tokyo based JERA Company, the world’s largest importer of LNG (Liquefied Natural Gas), is a joint venture between Tokyo Electric Power and Chubu Electric Power. “Rigzone” reports that last week JERA announced that it has received its first cargo of liquefied shale gas. The shipment of 70,000 tons (3.45 billion cubic feet) left Cheniere Marketing International LLP’s Sabine Pass LNG terminal in Louisiana on December 7 on the “Oak Spirit”. The vessel passed through the Panama Canal en route to Chubu Electric’s Joetsu LNG terminal on the Sea of Japan.
The shipment was the first delivery under a short term contract between JERA and Cheniere which specifies that the former will purchase a total of 700,000 tons (34.7 billion cubic feet) of LNG by January of 2018. The agreement is part of JERA’s effort to diversify its supply of LNG.
In my opinion, the entry of the U. S. into the global LNG market is a huge step forward for our domestic energy industry. By cultivating new markets for our natural gas, whether in a gaseous or liquid state, will help us monetize our vast reserves, and stabilize prices. While Cheniere is currently the only exporter of LNG from the Lower 48 states, there are many other projects in various stages of completion.
To read the article in its entirety, please go to http://www.rigzone.com/news/oil_gas/a/148017/JERA .
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