Energy ministers from the Group of Seven countries are set to agree at their meeting next month on the need to invest more to ramp up oil and gas production capacity for a future demand rise, sources said Thursday.
The ministers from Britain, Canada, France, Germany, Italy, Japan and the United States will also call for setting up a global framework for securing sufficient natural gas supply in emergencies such as natural disasters and international disputes, the sources with access to a draft statement of the meeting said.
Japan, which is hosting the two-day meeting starting on May 1 in Kitakyushu, hopes the outcome of the meeting will be reflected in discussions at the G-7 summit to highlight the importance of such investment and stable energy supplies for global economic growth.