Japan, India to Study LNG Pricing

India and Japan will start a joint study on pricing of LNG in the Asia Pacific market, amid rising demand for the fuel, Press Trust of India has reported.

Decision to launch the joint study on LNG pricing was taken at the sixth India-Japan Energy Dialogue between India's Planning Commission and Japanese Ministry of Economy, Trade and Industry.

Both countries would co-operate through participation in LNG Producer-Consumer conference to ensure the stable and low-cost supply of LNG, a joint statement said today. India and Japan would also explore the possibility of collaborating in exploration as well as production activities in the oil and gas sector.

"Both sides confirmed that they would strengthen their co-operative relationship relating to upstream development of petroleum and natural gas. Both sides confirmed to explore possibilities of collaboration in exploration and production activities in India and in third countries," the statement said.

Further, both countries would continue to co-operate in the study of Indian offshore seismic data and delineation of gas hydrates area apart from exploring co-operation in gas hydrate research and development.