By MARI IWATA
TOKYO -- Government and energy company officials from Japan
and India will have a two-day meeting in Tokyo from Tuesday to
discuss possible measures to address high global liquefied
natural gas prices, Japan's Ministry of Economy, Trade and
Industry said in a statement Monday.
The Japanese government has been seeking ways to reduce its
LNG import bill amid soaring domestic demand, and has tried to
rally support from other buyer countries like South Korea and
India. Japan is the world's largest
LNG importer, and buys most of its LNG needs from Malaysia,
Qatar, Australia and Russia.
Augustine Peter, Director of Petroleum Planning &
Analysis Cell at India's Ministry of Petroleum and
Natural Gas, and Shinichi Kihara, International Affairs
Director of METI's Natural Resources and Energy Agency, will
attend. Also, officials from Bharat Petroleum Corp. and GAIL
(India) Ltd. will participate, METI said in a statement.
The meeting, a follow-up of the one held between the two
countries in December in New Delhi, will be closed from the
public. Japan and India aim to compile a joint report
by summer, the statement said.
Japan's imports of LNG have surged since the accident at the
Fukushima Daiichi nuclear power plant in March 2011, as
utilities generate more power from conventional thermal energy
sources while keeping their nuclear reactors idle due to public
Japan imported a record 87 million metric tons of LNG in
2012, up 25% from 2010, government data showed. During the same
period, its bill for LNG rose 74% to Y6 trillion ($62 billion),
helping to push Japan into a trade deficit.
Dow Jones Newswires