Page 195 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - ΜΑΙΟΣ 2023

Sinopec is the first Asian stakeholder of the NFE in the global LNG market, have pledged under
project, and the event marks a model of Sino-Qa- this MOU to strengthen their strategic rela-
tar cooperation. tionship and look into developing cooperation
With a total investment of USD 28.75 billion, schemes regarding their LNG supply & demand
the NFE project is projected to increase Qatar’s to enhance a stable energy supply in Japan and
annual LNG export volume from 77 million to 110 Korea.
million tonnes. As a long-term matter, there is the accelera-
Sinopec and QatarEnergy’s partnerships will tion of the energy transition to a carbon-neutral
help to meet the demand for natural gas in the future in which LNG will play an even more crit-
Chinese market and continue to advance green, ical role as a transitional fuel in Europe as well
low-carbon, safe, and sustainable energy devel- as Asia.
opment. In the context of these significant changes, to
ensure a stable energy supply in Japan, JERA will
First cargo bound for Bulgaria arrives in Turkey continue to work together with LNG buyers and
The first cargo of LNG arrived in mid-April at a other leading companies both within and outside
Turkish terminal for delivery to Bulgarian Bulgar- Japan, such as KOGAS, as it looks into ways to
gaz as part of an agreement signed with Turkey’s gain even greater flexibility in procurement.
Botas.
More specifically, US LNG exporting giant
Cheniere sent the cargo on the MOL Hestia
ship to the Marmara Ereglisi terminal before
it was transported to the north of Bulgaria via
a pipeline.
It is reminded that the two partners, Bulgargaz
and Botas, signed a 13-year agreement in Jan-
uary, allowing the Bulgarian company access
to Turkey’s gas transmission network and five
LNG terminals.
At the special ceremony that took place as part
of the first cargo’s delivery, Bulgarian Energy
Minister Rosen Hristov noted that up to ten
LNG carriers can arrive in Bulgaria every year,
thanks to the agreement with Botas.
Bulgargaz already imports LNG through the
terminal on the island of Revithoussa and has
also booked additional capacity in the Alex-
androupolis FSRU terminal expected to start
operations this year.

A new Asian LNG buyers alliance
JERA Co., Inc. has signed a Memorandum of
Understanding with the Korean Gas Corpo-
ration (KOGAS) regarding cooperation in the
LNG business.
According to this MOU, to ensure LNG supply
stability, JERA and KOGAS have agreed to
discuss opportunities for mutual collaboration
in the LNG business, including LNG swaps,
trading, ship optimisation, and market view
exchange.
Russia’s invasion of Ukraine has created major
disruptions in the energy environment, such as
the reduction of pipeline gas supply to Europe,
thus drastically increasing the uncertainty
regarding global energy supplies.
Responding to these circumstances, JERA and
KOGAS, which are among the largest buyers

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