JERA and EDF Trading complete LNG optimisation and trading merger
JERA Co., Inc (“JERA”) and EDF Trading Limited (“EDFT”) are pleased to announce the completion of the transaction to merge their LNG optimisation and trading activities into JERA Global Markets (“JERAGM”), the new name for JERA Trading Pte. Ltd.
JERAGM is now the exclusive LNG optimiser for JERA and EDF S.A., managing their collective short and medium-term LNG optimisation activities in the wholesale markets. This transaction follows the successful completion of the acquisition of EDFT’s coal business by JERAGM on 4th April, 2017.
“This is a great opportunity for EDFT which strengthens our partnership with one of the largest buyers of LNG and coal in the world. I look forward to building this business with JERA and developing future cooperation in the evolving energy markets”, said John Rittenhouse, Chief Executive of EDF Trading.
“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. I look forward to developing an even closer relationship with EDFT”, said Sunao Nakamura, Managing Executive Officer of JERA and Chairman of JERAGM.
JERA holds 66.67% of the equity in JERAGM through its wholly-owned subsidiary JERA Trading International Pte. Ltd. EDFT holds 33.33% of the shares in JERAGM and is a wholly-owned subsidiary of EDF S.A. (“EDF”). JERA and EDFT will now have joint responsibility and joint control in managing the new and expanded business.
For further information, please contact:
Michele Reid, Head of Communications
Tel: +44 (0) 20 7061 4232
JERA is an energy company with global reach that has strength in the entire energy supply chain, from participation in LNG and other fuel resource projects and fuel procurement, through fuel transportation to power generation. Established in 2015, JERA is an equal joint venture of two major Japanese electric companies, TEPCO Fuel & Power Incorporated and Chubu Electric Power Company. JERA’s mission is to supply power and energy on a globally competitive basis, by effectively developing and managing its portfolio of energy chain assets and continuously optimising its business.
EDFT is a leader in the international wholesale energy markets. The company manages a portfolio of assets which give it the ability to source, supply, transport, store, blend and convert physical commodities around the world. These capabilities enable EDFT to deliver essential asset optimisation services, risk management and wholesale market access to the EDF Group and its third party customers, helping them to realise the value inherent in their asset portfolios. EDFT is a 100% owned subsidiary of EDF, one of the world’s biggest electricity generators. EDFT has around 800 employees with key offices in London, Paris, Singapore and Houston.