Chubu to Buy LNG from Shell

Shell has inked a deal to supply LNG to Japan’s third largest electric company Chubu Electric Power from October 2014.

According to a statement published by Shell on Friday, the company has agreed to to supply up to 12 cargoes of LNG a year for the next 20 years.

This agreement is the first long-term LNG deal directly between Shell and Chubu.

Japan imported record LNG in 2013 as demand for the fuel saw strong rise due to shut down of its nuclear stations since the Fukushima disaster in 2011.

The country imported 87.49 million tonnes of LNG last year, up 0.2 percent, Ministry of Finance data showed.  

Total value of imports stood at 7.06 trillion yen ($68.98 billion), which is also a record.

Japan is world biggest importer of LNG.