Japex agrees with Petronas to take part in Canada shale gas project

TOKYO (REUTERS) - Japan Petroleum Exploration (Japex) said on Monday that it has agreed with Malaysia's Petronas to take part in a shale gas development and LNG project in Canada's British Colombia.

Japanese firms have been investing in shale gas projects in North America to export cheaper liquefied natural gas to Asia.

Asian LNG long term prices are typically oil-linked, making them pricier than LNG from the United States, where the country's shale gas boom has helped lower natural gas prices.