Jera, Japan's largest power generation company, has signed a long-term time charterparty for a newbuilding liquefied natural gas carrier.

The agreement was signed between Mitsui OSK Lines ( MOL ) and LNG Marine Transport Limited ( LMT ). LMT is a vessel operation management entity that is jointly owned by Jera, Mitsubishi Corporation, and Nippon Yusen Kabushiki Kaisha ( NYK ).

The vessel will be constructed at the Samsung Heavy Industries Geoje Shipyard in South Korea, and will be delivered in 2026. It will be managed by MOL to transport LNG for Jera.

White & Case advised Jera. "By securing this long-term charter contract for a state-of-the-art LNG carrier, Jera further fortifies its LNG supply chain stability," says White & Case local partner Michael Richter, who co-led the firm's deal team. 

Jera has been signing long-term gas supply agreements around the world in order to ensure future supplies. Jera Global Markets and UAE-based Adnoc Gas recently signed a three-year US$450 million LNG supply agreement. 

At the recent World Economic Forum in Davos, Jera said it was also looking at boosting imports from the United States. The company is also a large importer of LNG from Indonesia, Malaysia and Australia.