[LNG Prime / July 19, 2023] South Korea’s KOGAS and Japan’s JERA, the world’s largest LNG buyers, have launched an initiative to reduce methane emissions in the LNG value chain.

The Coalition for LNG Emission Abatement toward Net-zero (CLEAN) is an initiative taken by LNG buyers, together with LNG producers, according to a statement by Jera issued on Tuesday.

This move follows a memorandum of understanding the two firms signed in April to strengthen their strategic relationship and cooperate in LNG supply.

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, the statement said.

With the support of the governments of Japan, the United States, and South Korea, and JOGMEC, the two firms said they 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.”

Jera, a joint venture of Tepco and Chubu Electric, is Japan’s largest power producer and handles about 40 million tons of LNG annually, according its website.

On the other hand, Kogas operates 77 LNG storage tanks at five LNG import terminals in South Korea.

Japan was the largest LNG importer last year, despite a 2.9 percent drop year-on-year, and received about 72.16 million mt of LNG, while South Korea was the third largest importer after China, and the country’s LNG imports rose slightly to about 47.1 million mt of LNG in 2022, GIIGNL data shows.