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Ohio Utica Shale

Major Japan utility seeks to buy U.S. shale gas

By Jim Mackinnon Published: October 11, 2012

A Japanese newspaper is reporting that a major Japan utility is looking into importing shale natural gas from the United States.

The story starts: "Tokyo Electric Power Co. is in talks with U.S. energy companies to import affordable shale gas amid rising fuel costs for thermal power generation, according to sources.

"If the negotiations go well, the utility could curb fuel costs by procuring U.S. shale gas for about half the price it currently pays for liquefied natural gas. As a result, it may not need to raise electricity rates further.

"According to sources, TEPCO aims to procure 2.4 million tons of shale gas a year from the United States as early as 2016. The figure accounts for about 10 percent of the LNG it imported last year."

Read the full story here.

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