Japanese energy company JERA and EDF Trading Limited (EDFT) announced the completion of the transaction to merge their LNG optimisation and trading activities into JERA Global Markets (JERAGM), the new name for JERA Trading Pte. Ltd. This transaction follows the completion of the acquisition of EDFT’s coal business by JERAGM on 4 April 2017.
JERAGM is now the exclusive LNG optimiser for JERA and EDF S.A., managing their collective short and medium-term LNG optimisation activities in the wholesale markets.
This is a great opportunity for EDFT which strengthens our partnership with one of the largest buyers of LNG and coal in the world,
…said John Rittenhouse, Chief Executive of EDF Trading.
As one of the largest utility-owned seaborne energy optimisers, JERAGM would significantly contribute to building and strengthening relationships with both current and new counterparties amid global expansion of the LNG market,
…said Sunao Nakamura, Managing Executive Officer of JERA and Chairman of JERAGM.
JERA holds 66.67% of the equity in JERAGM through its wholly-owned subsidiary JERA Trading International Pte. Ltd.
EDFT holds 33.33% of the shares in JERAGM and is a wholly-owned subsidiary of EDF S.A.
JERA and EDFT will now have joint responsibility and joint control in managing the new and expanded business.
