RWE and Tokyo Gas agree to cooperate in the LNG business
November 9, 2018
RWE and Tokyo Gas have entered into an agreement to cooperate extensively in the LNG business. Under a wide reaching MOU for strategic cooperation, the two companies aspire to strengthen their ties in the area of LNG sourcing, trading and shipping activities.
As the first step under the MOU, a framework has been agreed for cost reduction through LNG shipping optimization utilizing the US LNG procured by Tokyo Gas. The discussion is underway toward conclusion of the legally binding agreement on this framework. The two companies will also increase the values of their portfolios through taking advantage of short-term trading opportunities.
Edited from RWE press release.