TOKYO -- Japan has signed a memorandum of cooperation with Malaysian state oil giant Petronas with an eye on obtaining liquefied natural gas during a supply crunch or another emergency, as Tokyo prepares for the global competition for the fuel to grow as winter approaches.
Japan's Ministry of Economy, Trade and Industry announced the deal on Thursday at the virtual LNG Producer-Consumer Conference. Malaysia, among the world's largest producers of natural gas, was responsible for 13.6% of Japan's LNG imports in 2021 -- more than any other country but Australia.
