Japan's Idemitsu, Canada's Altagas to export LNG, LPG to Asia

TOKYO: Japanese oil refiner Idemitsu Kosan Co said on Tuesday it will form a partnership with Canada's Altagas Ltd to export liquefied natural gas and liquefied petroleum gas to Asia as early as 2017.

Idemitsu and Altagas will have equal stakes in the partnership, Idemitsu said in a statement. The companies will start feasibility studies for the construction and development of gas liquefaction facilities in Canada and expects them to be completed by 2014.

Idemitsu, Japan's third-largest refiner, has been focusing on overseas opportunities to make up for a gradual fall in oil demand as its domestic market matures.