Japan’s Saibu Gas, Novatek sign LNG transshipment deal

Japan’s Saibu Gas has signed an agreement with Russia’s Novatek for LNG transshipment and supply to Chinese city gas company Zhejiang Hangjiaxin Clean Energy Co., it said on November 30.

According to the agreement, Novatek will ship the LNG to Saibu’s Hibiki LNG terminal in Japan and Zhejiang Hangjiaxin will then ship the LNG to its under-construction Jiaxing LNG terminal in China using medium-sized LNG carriers. Saibu said the shipments are expected to begin in 2024. It did not disclose details on volume and price.

Saibu Gas said it has been promoting global business by utilising Hibiki LNG terminal and aims to make it a hub of LNG trade in the Asian region as well as “expand diversity and flexibility” of LNG supply.