March 17, 2026 [JERA]- JERA Co., Inc. (“JERA”) announced the signing of a memorandum of understanding (MOU) with Korea Gas Corporation (“KOGAS”) to enhance cooperation in LNG operation, with the aim of strengthening energy security in Japan and the Republic of Korea.

Under the MOU, the two companies will establish a framework to optimize LNG shipping and terminal operations. Areas of cooperation include discussing supply and demand trends and exploring cargo swaps to enhance portfolio flexibility and logistical efficiency across their LNG terminal networks.

The signing of the MOU was acknowledged in the presence of ministers from the Republic of Korea’s Ministry of Trade, Industry and Resources and Japan’s Ministry of Economy, Trade and Industry on March 14, 2026, reflecting the importance both governments place on strengthening regional energy cooperation.

As neighboring energy-importing economies with large LNG demand, Japan and the Republic of Korea share a strong interest in enhancing supply resilience and flexibility across the region, including through closer operational coordination among major LNG buyers.

Amid rising geopolitical tensions and market uncertainties, global energy markets are becoming increasingly volatile. As energy demand across Asia continues to grow alongside ongoing decarbonization efforts, LNG is expected to play an important role in ensuring reliable electricity supply and complementing renewable energy sources.

“As two of the world’s largest LNG importers, JERA and KOGAS share a strong commitment to ensuring reliable and efficient LNG supply across the region. In today’s increasingly complex energy landscape, closer cross-border collaboration among LNG-importing economies will play an important role in strengthening supply resilience and supporting energy security across the region,” said Yukio Kani, Global CEO and Chair of JERA.

JERA remains committed to ensuring a stable energy supply for Japan through strategic LNG procurement and resilient operations. By strengthening collaboration with global partners, including KOGAS, JERA will continue to enhance the LNG value chain and build a more flexible and responsive framework to adopt to fluctuations in supply and demand while supporting the stability of regional energy markets.