Japan and India to form LNG buyers group

India’s Prime Minister, Mr. Narendra Modi and the Japanese Prime Minister, Shinzo Abe, have decided to extend their cooperation in LNG buying.

Recognising the critical dependence of both the economies on imported energy sources, combined with the vulnerability of supply, the two Prime Ministers affirmed to strengthen their cooperation in energy sector, by signing the Tokyo Declaration for global partnership.

As part of the understanding, the heads of state will share the commitment to explore a higher level of collaboration in the global oil and natural gas market through the joint procurement of LNG and efforts to promote flexible LNG markets.

Source: GAIL India.

Edited by Katie Woodward

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