Japan's Kyushu Electric forms LNG trading unit
Japanese utility Kyushu Electric Power has launched a new subsidiary for LNG trading, it said on May 11 in a statement.
“Toward realisation of carbon-neutral society, the demand for LNG as a transition energy is expected to increase globally in various industrial areas including bunkering and fuel conversion,” the company said. “In response to such demand growth, Kyushu Electric Power hereby announces that it has launched a new subsidiary dedicated to supply to emerging demand, aiming at contribution to materialising low-carbon society by way of LNG supply.”
The new entity, Q United Energy Supply & Trading Co. (Quest), will be responsible for signing LNG sale and purchase agreements and transportation of energy resources.
Kyushu Electric owns 10% of Hibiki LNG located in Kyushu, Japan. Saibu Gas owns the remaining 90%.