Japan tries again for greater flexibility on LNG

Tokyo renews efforts to push reform in long-term contracts

Japan's economy ministry has once again gone public on its desire to introduce greater flexibility into the country's long-term LNG import contracts. And it is pushing improved global supply security as a motivating factor "LNG trading rules and practices that lead to more flexibility and the convergence of the global gas market are seen as the best condition for durable competitively priced LNG supplies and for improving the resilience of the international market and its capacity to respond to emergencies," Ryo Minami, director general for natural resources at Japan's Ministry of economy, trade and industry (Meti) told a Japanese government conference in October. Japan's fair trade commissi