Japan's JERA has secured three LNG cargoes for the country's "Strategic Buffer LNG" (SBL) framework over December 2023 to February 2024. The SBL initiative, aimed at enhancing LNG security during peak winter demand, will involve a minimum of one LNG cargo per month. JERA, the largest power generation company in Japan, plans to operate the SBL framework in response to supply issues and energy crises experienced in recent years. The move is part of Japan's broader efforts to strengthen LNG security, and JERA aims to fulfill these supply requirements based on the Ministry of Economy, Trade, and Industry's (METI) requests. The SBL framework is a significant step in Japan, as it establishes a buffer for LNG distribution, ensuring preparedness for potential supply challenges. Additionally, JERA is monitoring the impact of tightening transits in the Panama Canal on LNG procurements but, for now, does not foresee any direct impact. The LNG carrier Maran Gas Andros, chartered by JERA, is among vessels navigating via the Suez Canal due to restrictions in the Panama Canal caused by drought.

SOURCE: GOOGLE