Tokyo Gas Co., Ltd. announced today the signing of an agreement regarding the sale and purchase of liquefied natural gas (LNG) with Hokkaido Gas Co., Ltd. .
Since the conclusion of a heads of agreement with Hokkaido Gas in December 2010, Tokyo Gas continued to discuss conditions and eventually resulted in the conclusion of an agreement to supply LNG to Hokkaido Gas.
Tokyo Gas will supply LNG to Hokkaido Gas mainly from the LNG projects in Australia and Russia where Tokyo Gas has long-term contracts for LNG procurement.
This is the first project for Tokyo Gas to supply LNG to domestic gas supplier on a long-term contract basis from the LNG projects with which Tokyo Gas has a long-term procurement contract, making use of the ocean-going vessel.
[mappress]
Source: Tokyo Gas, August 2, 2011;