{
    "success": true,
    "data": {
        "id": 1278429,
        "msgid": "chubu-cpc-make-lng-buying-pact-1447893297",
        "date": "2000-09-01 00:00:00",
        "title": "Chubu, CPC make LNG buying pact",
        "author": null,
        "source": "DJ",
        "tags": null,
        "topic": null,
        "summary": "Chubu, CPC make LNG buying pact TOKYO (Nikkei): Chubu Electric Power Co. and Chinese Petroleum Corp. recently reached a mutual purchase agreement for liquefied natural gas, The Nihon Keizai Shimbun reported in its Thursday morning edition. Under the arrangement, Chubu Electric agrees to a spot purchase of 240,000 metric tons of LNG that CPC plans to import this year from Indonesia, and CPC promises to buy the same amount from Chubu within five years.",
        "content": "<p>Chubu, CPC make LNG buying pact<\/p>\n<p>TOKYO (Nikkei): Chubu Electric Power Co. and Chinese Petroleum<br>\nCorp. recently reached a mutual purchase agreement for liquefied<br>\nnatural gas, The Nihon Keizai Shimbun reported in its Thursday<br>\nmorning edition.<\/p>\n<p>Under the arrangement, Chubu Electric agrees to a spot<br>\npurchase of 240,000 metric tons of LNG that CPC plans to import<br>\nthis year from Indonesia, and CPC promises to buy the same amount<br>\nfrom Chubu within five years.<\/p>\n<p>CPC proposed the deal in June, hoping to sell off its excess<br>\ngas. The Taiwan company has been slow to complete a gas pipeline<br>\ncurrently under construction and to change fuel for thermal power<br>\nplants near the line to LNG from petroleum.<\/p>\n<p>Chubu Electric figured it could use more LNG since the<br>\nunusually hot summer in Japan is pushing up power demand, while a<br>\nwater shortage has lowered the capacity of hydroelectric power<br>\nplants.<\/p>\n<p>Both firms have long-term contracts with Pertamina, the<br>\nIndonesian state-run oil company. Chubu Electric currently<br>\nimports 8.5 million tons of LNG per year, including 3.8 million<br>\ntons from Indonesia. CPC imports 5.6 million tons, with 1.5<br>\nmillion tons coming from Indonesia.<\/p>\n<p>The sources claim the deal is the world's first LNG swap.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/chubu-cpc-make-lng-buying-pact-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}