ASIA: THREE TIMES PRICES
REUTERS. Japan's Chubu Electric Power said on Monday it has signed a deal with India's GAIL (GAIL.NS) to consider cooperation in joint procurement of liquefied natural gas (LNG), as Asian buyers look for stable and lower prices of the fuel.
Rising demand for LNG in Asia, already the top destination for the fuel, has helped push its price to near-record levels and now buyers such as India, Japan and South Korea are trying to find ways to cut their soaring gas import bills.
The two firms had been considering a preliminary deal on joint purchases since January.…
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