Japan Set to Renew LNG Contract with Brunei

Japan is set to renew a LNG supply contract with Brunei for another 10 years when the existing agreement expires in 2013, Brunei Times has reported citing a Japanese government official.

Noting that a large percentage of Japan's LNG demand is being supplied from Brunei, the Japanese official said that given the longstanding relationship between the two countries, it was "quite natural for both sides to renew the contract", which expires next year, the newspaper said. The newspaper further added that negotiations were under way.

He added that both leaders had agreed to further improve the cooperation between the two countries during the bilateral meeting.