Launch of the Methane Emission Reduction Initiative (CLEAN) by KOGAS and JERA

Source Press Release
Company JERA Co., Inc.Japan Oil, Gas and Metals National CorporationKorea Gas Corporation 
Tags Oil & Gas Trading, Environment, ESG/CSR, Government Policy, Gas Demand & Supply, LNG & Gas Storage/Processing
Date July 18, 2023

Korea Gas Corporation (“KOGAS”) and  JERA Co., Inc. (“JERA”) today launched an initiative of the “Coalition for LNG Emission Abatement toward Net-zero (“CLEAN”)”. CLEAN is an initiative taken by LNG buyers, together with LNG producers, to reduce methane emissions in the LNG value chain.

In accordance with the Memorandum of Understanding regarding cooperation in the LNG Business concluded in April 2023, KOGAS and JERA as the world's largest LNG buyers, have confirmed that they will strengthen their strategic relationship and work to ensure a stable supply of energy for both Korea and Japan.

Both companies recognize LNG as a transition energy for a decarbonized society, and believe that efforts to reduce GHG emissions in LNG value chain will become more important in the future. With the support of the governments of Japan, the United States and Republic of Korea, and the Japan Organization for Metals and Energy Security (“JOGMEC”), we will work to increase the visibility of methane emissions through dialogue with LNG producers, and to develop and disseminate best practices to reduce methane emissions.

As the largest power producer in Japan, JERA respects the energy and environmental policies represented by Japan’s Strategic Energy Plan, and actively promote the development of renewable energy.

Furthermore, as a global energy company, JERA fully recognizes the need for environmental protection on a global scale, strictly complies with the environmental laws and ordinances of each country and region around the world, and works to reduce its environmental impact, including the reduction of CO2 emissions, with the aim of achieving a sustainable environment, society and economy. 

KOGAS, the largest natural gas provider of Republic of Korea, will also put great efforts to enhance the visibility of methane emission through the LNG value chain in collaboration with JERA and JOGMEC to support the global response to climate change and sustainable energy system.

As the largest LNG importer of Republic of Korea, KOGAS fully acknowledge the importance of reducing methane emission in the global LNG value chain and will take an indispensable role in implementing the follow-up actions of the Coalition and collaborate with players in the LNG value chain.

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd