Traders gear up for U.S. shale gas

[xchrom]

http://www.japantimes.co.jp/news/2013/04/01/business/traders-gear-up-for-u-s-shale-gas/#.UVmBQe1qP8s


Yen for drilling: A natural gas well is drilled near Canton, Pennsylvania, on Jan. 8, 2012. Japanese trading firms are preparing to import shale gas from the United States to ease skyrocketing procurement costs for liquefied natural gas amid a weakening yen. | KYODO/REUTERS

Japan’s top trading firms are stepping up preparations to import shale gas from the United States, a move expected to ease skyrocketing procurement costs for liquefied natural gas driven by Tokyo’s verbal bludgeoning of the yen.

Lower LNG costs will help curb electricity rates that have soared since the loss of atomic power caused by the Fukushima disaster sent demand for fossil fuels soaring. Only two of Japan’s 50 reactors are running.

The trading firms are expected to start importing shale gas from the U.S. as early as 2017 if Washington approves exports to Japan in the first half of the year.

Sumitomo Corp. in 2009 became the first Japanese trading house to acquire shale gas interests in the U.S., starting with a development project in Texas.

[Champion Jack]

1. 100 years of energy independence for America they said....

Clean and safe they said......
Bullshit