Prime Minister Shinzo Abe plans to ask U.S. President Barack Obama during their upcoming talks in Tokyo to boost U.S. shale gas exports to Japan, a government source said Sunday.
Japan views the new and abundant source of natural gas as key to cutting fuel procurement costs and is aiming to ensure stable supplies from the United States, according to the source.
Abe hopes to confirm with Obama during Thursday’s summit meeting not only the importance of the U.S.-Japan security alliance but also cooperation in the energy and economic fields, according to the source.
Abe is also expected to propose stepping up cooperation on clean energy such as solar power.
Substantial imports of low-priced shale gas would lower Japan’s trade deficit and put it in a better position in price negotiations for gas imports from the Middle East.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.