Jera, EDF Complete LNG JV

Jera, the 50-50% LNG joint venture of Tokyo Electric and Chubu Electric set up in 2015, and EDF Trading (EDFT) have completed the merger of their LNG optimisation and trading activities, Jera said April 2.

The entity will be called Jera Global Markets (Jeragm), the new name for Jera Trading (Jerat). EDFT and Jera, which is Japan's largest LNG importer, in late 2017 signed a non-binding agreement to set up Jerat as a joint venture. The two parties then signed a binding agreements to form Jeragm in July 2018.

Jeragm is now the exclusive LNG optimiser for Jera and EDF, managing their collective short and medium-term LNG optimisation activities in the wholesale markets, Jera said. Jera holds 66.67% of the equity in Jeragm while EDFT holds 33.33%.