Japan's TonenGeneral to buy 600,000 tonnes of US LPG

TOKYO Wed May 15, 2013 10:26am EDT

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TOKYO May 15 (Reuters) - TonenGeneral Sekiyu KK, Japan's second biggest refiner, said on Wednesday it had agreed to buy a total of 600,000 tonnes of U.S. liquefied petroleum gas (LPG), the latest case of Japanese firms seeking a cheaper alternative to Middle East LPG.

TonenGeneral said in a statement that an LPG purchase contract with Enterprise Products Partners of the United States is linked to a benchmark price in North America, but did not specify the contract's duration.

U.S. gas prices have come under pressure from an oversupply of natural gas, including shale gas. Traditionally, users in Asia rely for the bulk of their imports on Middle East LPG.

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