The agreement covers Japan developing markets in Asia to sell LNG sourced from the U.S., said the people, who asked not to be identified because the information isn’t public. An official at Japan’s Ministry of Economy, Trade and Industry declined to comment. The U.S. Energy Department didn’t immediately respond to questions emailed outside normal business hours.
Japan is seeking to develop new outlets for gas consumption in Asia as the world’s biggest importer of LNG is seen oversupplied after committing to numerous export projects, including in the U.S. Companies including Japan’s Jera Co. have also signed deals to resell the super-chilled fuel amid demand uncertainty at home.
The U.S. signed a deal with China last month to encourage that country’s investments and purchases of American gas.