Centrica has signed a Memorandum of Understanding for LNG collaboration with a Japanese company.
Under the agreement with Tokyo Gas, the companies will swap locations in an effort to achieve LNG transportation savings and lower the overall cost of procurement in the Atlantic and Asia-Pacific markets.
Both companies also intend to enter into a legally binding contract on the basis of this framework.
Jonathan Westby, Centrica’s Co-Managing Director of Energy, Marketing and Trading said: “We are delighted to formalise our long-standing relationship with Tokyo Gas and we welcome the opportunity to expand our LNG activities in Asia Pacific.
“Building alliances, such as this, helps towards lowering LNG procurement costs and this can benefit customers around the world.”