Japan to Propose Global Natural Gas Reserve to Avoid Shortages
- Government to outline stockpile plans at Tokyo LNG conference
- IEA member states are already required to keep oil stockpiles
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Japan plans to propose a global stockpile for natural gas, similar to the emergency reserve in the oil sector, to help avoid future shortages and stabilize prices.
The nation’s government will suggest that the International Energy Agency should create a gas stockpiling framework for member nations, according to people familiar with the details. The proposal will be set out during a conference in Tokyo on Tuesday, said one of the people, who asked not to be named as the details are private.