Abe Says Japan, Canada Agree to Cooperate on Natural Gas
By Andrew Mayeda & Rebecca Penty
Abe, speaking yesterday to reporters in Ottawa at a joint press conference with Prime Minister Stephen Harper, said Canada is a stable source of energy and can provide gas at competitive prices. Abe said the two countries will hold “ministerial level consultations,” without providing details.
“The importation volume of natural gas is increasing and the prices remain high,” Abe said. “Canada, endowed with rich energy resources including natural gas, has a very high potential in the context of energy cooperation.”
Japan, which relied on nuclear power for about a quarter of its energy needs before the Fukushima disaster, is without atomic power again after the nation’s last operating reactor shut on Sept. 15 for regular maintenance. To compensate, the nation’s utilities have increased purchases of traditional fossil fuels.
Japan paid an average price of $15.74 per million British thermal units for liquefied natural gas in July, according to data from LNG Japan Corp. That compares with an average of about $3.64 for U.S. natural gas futures traded in New York.
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