The Yomiuri Shimbun reports that the Japanese government is seeking to jointly develop natural gas overseas with South Korea.

The Japanese daily said Japan has been in need of stably securing more fossil fuel since the nuclear crisis at the Fukushima nuclear power plant. Yomiuri added that Japan is planning to jointly develop overseas natural gas fields with South Korea, or at least, exchange related information to gain an advantage in negotiations over the purchase of the natural resource.

South Korea and Japan account for about half of global liquefied natural gas imports. But they have paid more than the U.S. and Europe to buy the natural resource due to deals under which their natural gas purchasing prices are pegged to oil prices.