ISTANBUL

Japanese and Qatari companies signed a 27-year agreement for 3 million tons of liquefied natural gas per year beginning in 2028, media reports said Saturday.

The agreement was signed between the major Japanese energy company Jera Co. and Doha's state-run QatarEnergy.

"Jera remains committed to building a resilient, well-balanced LNG procurement portfolio by sourcing from the Middle East, Asia-Pacific, the United States, and other regions," said the company.

Jera is one of the world's largest LNG buyers.

LNG-fired thermal power remains a key part of Japan’s energy mix, even as Tokyo expands nuclear and renewable sources.

Thermal power’s share is expected to decline to 30% - 40% by fiscal 2040, down from 68.6% in fiscal 2023 under the latest energy plan

Japan imported 66.15 million tons of LNG in 2023, with 4.4% from Qatar. Australia was the largest supplier at 41.6%, followed by Malaysia at 15.6%.

Separately, Japan’s Ministry of Economy, Trade and Industry signed a memorandum of understanding with JERA and QatarEnergy, allowing Tokyo to request additional LNG supplies during natural disasters or other energy security emergencies.