According to the latest Reuters report, Japan's Tokyo Gas is in negotiations to renew its supply contracts, and is also planning to revise existing deals in order to achieve more flexibility and lower prices.
"We have re-negotiations under way, including price review. We have 12 contracts, and we are considering in what order (to negotiate). It depends on the contents of contracts to see what actions to take," said Takashi Higo, senior general manager at the gas resources department of Tokyo Gas.
Asked whether his company would try to revise existing supply contracts he said: "Yes, I think we should."