March 28, 2018 / 3:11 AM / 4 months ago

BRIEF-Japan's JERA lowers 2025/26 profit outlook

March 28 (Reuters) -

* JERA Co, the world’s biggest liquefied natural gas (LNG) buyer, says it has lowered the net profit outlook for fuel sales and overseas power generation by 80 billion yen to 140 billion yen ($1.33 billion)

* The main reason for the revision reflects a projected severe environment for overseas fossil fuel-fired power business because of a decline in renewable power prices, the fuel joint venture between Tokyo Electric Power and Chubu Electric Power, says

* Co says it projects a total net profit forecast of 200 billion yen in 2025/26, including a 60 billion yen profit expected from the integration of its parents’ domestic fossil fuel power business in April 2019

* JERA says it expects no change in annual LNG trading volumes of 35 million tonnes in 2025/26

* Co says it expects to be trading around 50 million tonnes of coal a year in 2025/26 and possibly as high as 55 million tonnes in the late 2020s, up from 34 million tonnes now, following its acquisition of the coal and freight business of French utility EDF’s trading arm last year ($1 = 105.5500 yen) (Reporting by Osamu Tsukimori)

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