(MENAFN) Japan's Chubu Electric Power will begin importing cheaper natural gas from the United States by 2016, one year before the agreed date, KUNA reported.
The utility attributed the decision to an urge to bringing down high fuel costs and improve its bargaining position with other suppliers, local press reported.
Chubu Electric has signed a contract with American shale gas developer Cheniere Energy to procure a total of 700,000 tons of liquefied natural gas (LNG) between July 2016 and Jan 2018.
Beginning shale gas importing early will affect crude oil price fixing, which is expected to hold down prices for more expensive fuel from such regions as the Middle East.
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