Japan's Chubu in LNG Deal With GDF Suez

Japan’s Chubu Electric Power Co will buy 20 LNG cargoes from GDF Suez.

The Japanese utility on Thursday said that this would be its first LNG purchase linked to spot LNG prices, Reuters reported.

According to the basic agreement signed on Oct. 31, Chubu will buy 20 cargoes or around 1.2 million tons between January 2015 and March 2017.

The LNG will be sourced from the French firm's portfolio of LNG projects around the world, rather than one specific project, and part of the prices will be linked to Asia's spot LNG market, Reuters said citing a statement by Chubu.