OREANDA-NEWS. Tokyo Gas signed a memorandum of understanding on strategic collaboration (MOU) with Korea Gas Corporation yesterday to further enhance cooperation and communication between the two companies.

Tokyo Gas has maintained a close relationship with Korea Gas Corporation through information and technology exchange since the first MOU signed between the two companies in 1990.

By signing the new MOU, Tokyo Gas seeks an opportunity to establish and enhance a strategic partnership with Korea Gas Corporation.

The possible areas of collaboration shall include, but is not limited to:
- Optimization of LNG inventory and/ or its owned or chartered shipping capacity;
- Joint LNG procurement from suppliers in the mid to long term; and
- Upstream project investment opportunity.

In its "Challenge 2020 Vision," Tokyo Gas declared its targets to reduce raw materials prices and to realize appropriate Asian market prices. With these goals in mind, Tokyo Gas will accelerate collaboration with LNG buyers inside and outside Japan.