Bloomberg: EU to Meet With Japanese Experts in June to Discuss Gas Markets

European Union and Japanese representatives are due to meet this month to discuss how governments can support the creation of “liquid and flexible” global natural gas markets.

The European Commission’s directorate for energy and Japan ’s Ministry of Economy, Trade and Industry have started cooperation to analyze changes in the markets in recent years and assess how they should function, the Brussels-based commission said by e-mail yesterday.

“As major gas importers, Japan and the EU share the need for the development of transparent and liquid global gas markets driven by supply and demand fundamentals, while maintaining secure and stable supply,” it said.

The 27-nation EU is considering ways to lower energy prices as the shale-gas revolution widens the cost gap between Europe and the U.S., its largest trading partner. European nations must accelerate efforts to implement energy legislation aimed at breaking down national barriers by 2014 and develop interconnections to end the isolation of some member states from networks by 2015, EU leaders said at a summit last month.  MORE