Abu Dhabi’s key LNG customer, Japan’s Jera, will slash its contractual offtake by 90% once the current 4.7mn t/y 25-year supply deal ends in March 2019.

Jera and Adnoc this week inked a “Memorandum of Agreement” for the supply of “up to” a mere eight cargoes per year (around 450,000 t/y) for three years from 2019.

Jera says that “This MOA is in line with the Japan Fair Trade Commission ruling issued in June 2017.” This ruling bars Japanese...