Japanese power generation company JERA and Korea Gas (KOGAS) have signed a memorandum of understanding (MoU) to enhance collaboration in liquefied natural gas (LNG) operations, aiming to strengthen energy security for Japan and the Republic of Korea.

The agreement, formalised on 14 March 2026 in the presence of representatives from the Republic of Korea’s Ministry of Trade, Industry and Resources and Japan’s Ministry of Economy, Trade and Industry, establishes a framework for optimising LNG shipping and terminal activities involving the two companies.

Through this framework, JERA and KOGAS will collaborate to analyse supply and demand trends, as well as consider cargo swaps to improve flexibility in their LNG portfolios and increase efficiency across their terminal networks.

Both companies play significant roles as large importers of LNG in Asia and have identified mutual interests in bolstering supply resilience. The agreement comes as regional energy markets face volatility linked to geopolitical developments and fluctuations in demand.

JERA Global CEO and chair Yukio Kani said: “As two of the world’s largest LNG importers, JERA and KOGAS share a strong commitment to ensuring reliable and efficient LNG supply across the region.

“In today’s increasingly complex energy landscape, closer cross-border collaboration among LNG-importing economies will play an important role in strengthening supply resilience and supporting energy security across the region.”

Current trends show rising energy requirements throughout Asia, alongside efforts to decarbonise national economies. In this context, LNG remains a key resource for maintaining electricity supply reliability and supporting renewable energy use, said the Japanese company.

JERA has signalled an ongoing commitment to stable energy provision in Japan by pursuing strategic procurement measures and maintaining consistent operational practices.

The company stated that by deepening cooperation with global partners such as KOGAS, it intends to further strengthen the LNG value chain and create adaptive systems capable of responding to market changes.

Last month, JERA completed its acquisition of the South Mansfield upstream asset in the Haynesville Shale basin in western Louisiana, US, in a deal valued at $1.5bn (Y230bn).