Osaka Gas plans to secure more liquefied natural gas (LNG) than usual in the financial year starting in April to ensure a stable supply of the fuel as global supply is expected to stay tight, its president said on Wednesday.
The city gas provider is one of the country’s major buyers of the super-chilled fuel.
Spot LNG prices soared last year in the wake of Russia’s invasion of Ukraine as European buyers sought large volumes to replace Russian pipeline natural gas, though they have trended lower since mid-December due to a milder than usual European winter.
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