12th December, 2019
The Chugoku Electric Power Co., Inc.
Tokyo Gas Co., Ltd.
Chugoku Electric and Tokyo Gas sign MOU regarding a Strategic Alliance in LNG Procurement
The Chugoku Electric Power Co., Inc. (President: Mareshige Shimizu; hereafter "Chugoku Electric") and Tokyo Gas Co., Ltd. (President: Takashi Uchida; hereafter "Tokyo Gas") have signed and agreed upon a Memorandum of Understanding to consider strategic partnership in LNG Procurement.
The two companies have continued to build a strong relationship leading up to today and now will further consider to strategically optimize procurement of LNG for both companies.
Details regarding future strategic cooperation between the two companies are as below:
- To further consider the cooperation through flexible utilization of both companies’ assets and resources, in an attempt to realize further flexibility and lower procurement costs.
- To further consider cooperating to interchange LNG supply, including at times of emergency, to increase the stability of supply for both companies.
Furthermore, the two companies will not only discuss regarding cooperation and building a strategic alliance in LNG procurement, but will consider further partnership in various other fields that will lead to creating value for customers of both companies by providing competitive and stable supply of energy.