Japan, Arab Nations Agree on Competitive Gas Prices

Japan and 20 Arab countries, including Egypt and Saudi Arabia, agreed Monday to ensure gas supplies from the Arab region to Japan at competitive prices, JiJi Press reported.

The agreement, which was made at the third meeting of the Japan-Arab Economic Forum in Tokyo, will help it procure natural gas more cheaply, as the prices of Arab-produced gas for Asian markets are believed to be higher than those of gas from other regions, JiJi Press news report added.

According to the news report, no specific price levels were mentioned.

The joint statement stressed the "significance of energy security for both regions to secure their stable economic activities."

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