Osaka Gas in LNG con­tract talks

China Daily (USA) - - BUSINESS -

Osaka Gas Co is in talks with some sup­pli­ers to re­move re­stric­tions in ex­ist­ing liq­ue­fied nat­u­ral gas con­tacts that pro­hibit re­sale of the fuel, amid a global over­sup­ply. The Osaka-based city-gas dis­trib­u­tor won’t sign new con­tracts with so-called desti­na­tion re­stric­tions, said Su­nao Okamoto, gen­eral man­ager of the com­pany’s LNG trad­ing depart­ment. Among Ja­pan’s big­gest buy­ers of the fuel, Osaka Gas plans to boost an­nual LNG fuel pur­chases to about 10 mil­lion met­ric tons by around 2020 and re­sell about 2.5 mil­lion tons, Okamoto said, with­out pro­vid­ing de­tails.

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