Japan: Osaka Gas Plans to Buy 7.19 Million Tonnes of LNG

Osaka Gas of Japan said in a release that it plans to purchase 7.19 million mt of LNG during fiscal 2012.

The company also said that it expects its procurement of LNG to reach 7,55 million mt in fiscal 2016.

Osaka Gas plans to invest 290 billion yen in LNG storage facilities and laying pipelines in five years from fiscal 2012-2016.

Osaka Gas, in a consortium with Tokyo Electric Power and Tokyo Gas, has last week concluded a heads of agreement with Brunei LNG for a purchase of liquefied natural gas.

Out of the total delivery of some 3.4 million tons in this agreement, Osaka Gas will purchase 370,000 tons of LNG per year, starting in April 2013.

[mappress]

LNG World News Staff, March 22, 2012; Image: Osaka Gas