JERA Co. Inc and EDF Trading Limited have completed the merger of their liquified natural gas (LNG) trading and optimization processes. The result of the merger is called JERA Global Markets (JERAGM), two-thirds of which is owned by JERA and the remaining one-third owned by EDF.
EDFT’s Chief Executive John Rittenhouse said, “This is a great opportunity for EDFT which strengthens our partnership with one of the largest buyers of LNG and coal in the world.”
“As one of the largest utility-owned seaborne energy optimisers, JERAGM would significantly contribute to building and strengthening relationships with both current and new counterparties amid global expansion of the LNG market,” stated JERAGM’s Chairman and JERA’s Managing Executive Officer, Sunao Nakamura.
Both executives also expressed their desire to for future cooperation together.
JERAGM will manage the wholesale LNG optimization activities for short and medium-term contracts for both JERA and EDFT.
