Sojitz, Reganosa Extend Cooperation

Japan's Sojitz Corporation and Spain's Reganosa Servicios have agreed to extend their cooperation internationally in fields such as LNG.

Reganosa said September 10 this was outlined in a memorandum of understanding signed by its CEO Emilio Bruquetas and Sojitz's chief operating officer for energy and infrastructure Masakazu Hashimoto. The agreement outlines other areas in which collaboration could be pursued as gas infrastructure, renewable fuels, gas-to-power projects, smart grids and cryogenics. The geographical remit for the agreement covers Asia, Europe, the Middle East, and Latin America.

Sojitz has a 50% stake (alongside Japan's Sumitomo Corp, also 50%) in LNG Japan Corporation  which has a stake in the Tangguh LNG export venture  in Indonesia.

Last year Sojitz become the first Japanese trading company to become a co-owner in an LNG terminal operating business in Europe - although not the first Japanese shareholder of such a Spanish business - when it acquired a 15% stake in Reganosa, owner of the Mugardos LNG terminal in northwest Spain, alongside Spain's Tojeiro Group 50.69%, the regional government of Galicia 24.31% and Algerian state gas producer Sonatrach 10%.  Earlier this year Reganosa announced a restructuring of its business to enable it to invest more outside Spain: it operates Malta's Delimara LNG import/ regasification plant in Malta and was a runner-up bidder in the privatisation earlier this year of the Greek national gas transmission system Desfa.