Japan’s anti-monopoly regulator said on Wednesday that all new contracts for liquefied natural gas (LNG) must not contain restrictions on the resale of cargoes of the fuel, ending a practice the country’s buyers say is unfair.
The ruling is likely to result in more trading of LNG cargoes by buyers in Japan, the world’s biggest importer of the fuel, and could lead to a challenge to similar restrictions elsewhere in Asia.
Asian LNG buyers have long complained that the long-established practice of placing destination clauses in LNG contracts unfairly restricts trading of the fuel when it would make more economic sense to on-sell supplies into other markets.
The ruling comes as many producers have already relented on the issue, offering contracts without resale or destination restrictions.
“They had been talking about this for quite a while. A lot of the sellers already loosened their restrictions. It will probably impact the Qatari contracts especially in this oversupply climate,” a Singapore-based LNG trader said.
Producers in Qatar have several long-term LNG contracts up for negotiation with Japan between now and 2021, while producers in Malaysia will also be affected.
The move is a reprise of the upheaval in Europe in the early 2000s when the European Union found certain gas market practices anti-competitive.
Japan’s Fair Trade Commission late last year ordered the country’s LNG buyers to provide details on contract requirements that prevent them from reselling the liquefied fuel to third parties.
Japan’s trade ministry issued a report in May 2016 recommending that destination clauses be abolished or relaxed in the future so that utilities can resell cargoes or take advantage of arbitrage trade opportunities.
* Reuters
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The%20specs%3A%202024%20Panamera
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SPEC SHEET
Display: 10.9" Liquid Retina IPS, 2360 x 1640, 264ppi, wide colour, True Tone, Apple Pencil support
Chip: Apple M1, 8-core CPU, 8-core GPU, 16-core Neural Engine
Memory: 64/256GB storage; 8GB RAM
Main camera: 12MP wide, f/1.8, Smart HDR
Video: 4K @ 25/25/30/60fps, full HD @ 25/30/60fps, slo-mo @ 120/240fps
Front camera: 12MP ultra-wide, f/2.4, Smart HDR, Centre Stage; full HD @ 25/30/60fps
Audio: Stereo speakers
Biometrics: Touch ID
I/O: USB-C, smart connector (for folio/keyboard)
Battery: Up to 10 hours on Wi-Fi; up to 9 hours on cellular
Finish: Space grey, starlight, pink, purple, blue
Price: Wi-Fi – Dh2,499 (64GB) / Dh3,099 (256GB); cellular – Dh3,099 (64GB) / Dh3,699 (256GB)
Ain Dubai in numbers
126: The length in metres of the legs supporting the structure
1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch
16 A380 Airbuses: The equivalent weight of the wheel rim.
9,000 tonnes: The amount of steel used to construct the project.
5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place
192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
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Veil (Object Lessons)
Rafia Zakaria
Bloomsbury Academic
Dirham Stretcher tips for having a baby in the UAE
Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:
• Buy second hand stuff
They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.
• Get a health card and vaccinate your child for free at government health centres
Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.
• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.
Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.
• Once baby is ready for solids, cook at home
Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.
COMPANY%20PROFILE
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WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
Cricket World Cup League Two
Oman, UAE, Namibia
Al Amerat, Muscat
Results
Oman beat UAE by five wickets
UAE beat Namibia by eight runs
Fixtures
Wednesday January 8 –Oman v Namibia
Thursday January 9 – Oman v UAE
Saturday January 11 – UAE v Namibia
Sunday January 12 – Oman v Namibia
COMPANY%20PROFILE
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COMPANY%20PROFILE
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Inside%20Out%202
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions