Japan, the second-largest LNG importer worldwide after China, is adopting a proactive strategy to reduce its dependency on traditional long-term contracts. In collaboration with South Korea, through JERA and KOGAS, and Italy, via the Japan Organization for Metals and Energy Security (JOGMEC) and Eni, Tokyo seeks to pool supplies and facilitate cargo exchanges. This approach addresses the growing demand for flexibility in "free-on-board" (FOB) contracts, often seen as too restrictive.