Japan’s Chubu Electric Power Company and trading house Mitsui are set to sign memorandums of understanding (MoUs) with Indian firms to cooperate in the energy sector, Reuters reports.
Chubu aims to sign an agreement with India’s GAIL to launch talks on potential joint purchases of liquefied natural gas (LNG) and cooperation in other areas such as shipping.
India and Japan are increasing the pressure for cheaper LNG with potential joint tenders as the countries try to ease the pain of high prices and rising demand.
Mitsui plans to agree with India's ONGC to expand an existing partnership and to consider joint acquisitions of upstream oil and gas stakes globally, according to an industry report.
Edited from various sources by Katie Woodward