Japan's Chubu Electric Power Co, Mitsui in energy tie-ups with India firms.

Japanese utility Chubu Electric Power Co and trading house Mitsui & Co are set to sign memorandums of understanding with Indian firms to cooperate in the energy sector, industry sources said.

Chubu aims to sign an agreement with India's GAIL as soon as possible to launch talks on potential joint purchases of liquefied natural gas (LNG) and cooperation in other areas such as shipping, Chubu President Akihisa Mizuno told reporters. India and Japan are stepping up the pressure for cheaper liquefied natural gas (LNG) with potential joint tenders as two of the world's biggest gas buyers try to ease the pain of high prices and rising demand.

ET