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    TEPCO, Chubu to Buy LNG from Vitol, GDF

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Summary

Japan's Tokyo Electric Power Co and Chubu Electric Power Co, are expected to buy a total of six LNG cargoes from Vitol and GDF Suez in their first joint tender, Reuters reported citing sources.

by: shardul

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Asia/Oceania

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TEPCO, Chubu to Buy LNG from Vitol, GDF

Japan's Tokyo Electric Power Co (TEPCO) and Chubu Electric Power Co, are expected to buy a total of six LNG cargoes from Vitol and GDF Suez in their first joint tender, Reuters reported citing sources.

Vitol and GDF Suez are expected to supply three cargoes each, traders told the news agency.

The two companies have for the first time jointly tendered for LNG.  Last month, the companies sent out invitations for bids to about 60 LNG suppliers globally.

According to Reuters, Tepco currently buys about 25 million tons of LNG every year while Chubu Electric procures around 14 million tons a year.

 

 

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