U.S. shale gas may not be the panacea being touted by Japan’s politicians and companies to sharply reduce the country’s crippling energy bills.
Japan’s government last month said it will provide loan guarantees of 1 trillion yen ($10.47 billion) for investments in shale gas, which the Nikkei business daily has said could cut imported gas costs by as much as 40 percent.
But the advantage is eroded to as little as 10 per cent once shipping and other costs are accounted for, according to a Reuters survey of estimates.
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