koreajoongangdaily_joins27d ago
From left, Korean Industry Minister Kim Jung-kwan, Korea Gas Corporation (Kogas) President and CEO Choi Yeon-hye, JERA CEO Yukio Kani, and Japanese Economy and Trade Minister Ryosei Akazawa pose after signing an liquefiied natural gas supply cooperation agreement between Kogas and JERA. [KOGAS] Korea's state-run Korea Gas Corp. (Kogas) said on Saturday it had signed an agreement with Japan's largest power generator, JERA, to strengthen cooperation on the management of liquefied natural gas (LNG) supply as the two countries seek to bolster energy security amid global supply risks. Kogas said the Operation Cooperation Agreement aims to ensure stable natural gas supplies and improve coordination between the two companies in response to geopolitical uncertainties, including tensions in the Middle East that could disrupt global energy markets. JERA was established in 2015 as a joint venture between the Tokyo Electric Power Company and Chubu Electric Power. The company supplies roughly 30 percent of Japan's electricity. Kogas and JERA are the world's two largest LNG buyers. Under the agreement, the companies will hold regular meetings to discuss joint response measures and coordination on supply operations. The deal builds on an earlier partnership. In 2023, Kogas and JERA signed a memorandum of understanding on LNG cooperation. The companies also completed an LNG cargo swap following discussions at the 2025 LNG Producer-Consumer Conference held in Japan in June. A Kogas official said the company is preparing additional measures, including a potential LNG cargo exchange with JERA later this year, to respond to rising geopolitical tensions and energy risks, such as ongoing shipping disruptions occurring in the Strait of Hormuz. BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]
