Entrepreneurship visits Tokyo Japan for participation in LNG Producer Consumer Conference

The conference organized by the Ministry of Economy, Trade and Industry of Japan (METI) and the Asia Pacific Energy Research Centre (APERC) is a global annual dialogue which provides participants a forum for sharing the latest trends in the global LNG market and discussing opportunities and challenges with a view to developing global LNG market.

 

Delivering the key note address shri Pradhan stated that the global LNG market is undergoing a major transformation driven by new supplies which has created a situation of oversupply. He urged the global LNG markets, in which producers and consumers of LNG have equal stakes, to join hands to design flexible terms such as pricing review, flexible take or pay, abolition of destination restriction clause in the LNG contracts. Shri Pradhan stressed that these reforms are essential for developing a transparent, efficient, truly global and balanced LNG market.