Tag Archives: LNG

EU-Japan: LNG cooperation deal

 

“International LNG markets are set for major change with substantial new liquefaction capacity coming on stream. LNG prices across the Atlantic and Pacific basin are converging and the LNG market moves towards higher liquidity and flexibility. For the EU, the current developments in the global LNG market offer an opportunity to let LNG play its full role in diversifying gas supplies to all member states and in enhancing the competitiveness in the internal gas market.” Commissioner Miguel Arias Cañete said ahead of the sign of a joint Memorandum of Cooperation on LiquefiedNatural Gas (LNG).

Commissioner for Climate Action and Energy Miguel Arias Cañete and Japan’s Minister for Economy, Trade and Industry Hiroshige Seko on 11th July, will sign a joint Memorandum of Cooperation on Liquefied Natural Gas (LNG). As the EU and Japan taken together account for nearly 50% of overall global LNG consumption, reinforced cooperation between the EU and Japan will promote the liquidity, flexibility and transparency of the global LNG market. The signature takes place just days after leaders at the EU-Japan Summit in Brussels reached a political agreement on two landmark agreements, the Economic Partnership Agreement and the strategic partnership agreement.

Commissioner Cañete concluded: “Japan is the world’s largest LNG importer. Being natural allies in this regard, the EU and Japan both want to promote the liquidity, transparency and flexibility of the global LNG market. This will ensure competitive LNG supplies and make the international market more resilient and prepared to respond to emergencies.”

EU-Japan Energy Dialogue: a wide-ranging partnership

105729Energy policy-makers from the EU and Japan are due to discuss topics that include electricity market design, renewable energy and energy efficiency policy, and energy research and innovation. They will also focus on the global liquid natural gas (LNG) market, in preparation for a bilateral Memorandum of Cooperation to promote the liquidity, flexibility and transparency of this market. They will meet today in Brussels as part of the EU-Japan Energy Dialogue.

Collaboration with Japan on energy issues is central to the EU’s international cooperation in energy. It is particularly strong in the areas of LNG and electricity market reform as well as in innovative energy technologies. Today’s meeting will be followed by a EU-Japan Energy Business Seminar that will consider the perspectives of the EU and Japanese business sectors on the clean energy transition. Participants from the European Commission, Japanese government and European and Japanese businesses will discuss the creation of more flexible energy systems, their impact on the energy consumer market, and the implementation of storage solutions that allow the maximum possible use to be made of energy from renewable sources.

Source: Dg energy