ASIA: PRICES WILL BE HIGH
REUTERS. State-run Korea Gas Corp (KOGAS) and a Japanese company bought natural gas jointly on Monday and such rare cooperative purchases will become more common, the head of state-run Japan Oil, Gas and Metals National Corp (JOGMEC) said.
The world's top two buyers Japan and South Korea, along with China and other Asian gas importers, have been unhappy about paying higher prices than the United States and Europe due to strong regional demand. Asian buyers took about 70 percent of global liquefied natural gas (LNG) exports last year.
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