JERA establishes oil storage company amid Middle East tensions

In a separate but related move, JERA launched JERA Global Energy Solutions (JERA GES), a wholly owned subsidiary headquartered in Singapore. This new entity will serve as JERA's exclusive platform for originating long-term LNG supplies, integrating portfolio strategy, project development, and market expansion. JERA GES will also support the development of lower-carbon fuels, including ammonia and hydrogen. Irtiza H. Sayyed has been appointed CEO of JERA GES, while Ryosuke Tsugaru will oversee strategic alignment with JERA's broader decarbonization strategy. JERA GES will gradually assume responsibility for JERA's existing long-term LNG and lower-carbon fuel operations, ensuring continuity for customers and business partners. This structural change separates long-term supply management from commodity trading, a trend seen among major LNG buyers navigating volatile markets. JERA is a significant LNG purchaser and produces approximately one-third of Japan's electricity.