Things get started. A North Western European player with a pure Asian player. The one can bring flexible portfolios, access to the only market sink and the capability to swallow what the other does not need and the other brings access to the premium cut market. Tokyo gas might save a buck, RWE make a buck. North Western Europe is the most important place for LNG on this planet. It prevents the LNG market from blowing up when things get out of hand.
With this MOU signed for strategic cooperation, both companies aspire to strengthen their ties, mainly in the area of LNG sourcing. As the first concrete step under the MOU, a framework has been agreed for cost reduction through LNG shipping and trading optimisation, utilising the US LNG procured by Tokyo Gas. Discussions are underway, with progress being made towards a conclusion of the legally binding agreement on this framework.