Japan’s traders prepare for US shale gas
Japanese firms are preparing to import shale gas from the United States to ease huge price rises.
The trading firm Sumitomo Corp is going to buy 2.3million tonnes of liquefied natural gas from the US every year to sell to two large Japanese firms, it said yesterday.
The firm will buy gas from the Cove Point LNG terminal in Maryland on the US east coast, to sell to Kansai Electric Power Company (KEPCO) and Tokyo Gas Company.
Japan has struggled to fill the gap left by nuclear power after the nuclear disaster at the Fukushima nuclear plant in 2011.
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Source: Energy News Live