Petroleum and Natural Gas Minister Dharmendra Pradhan will be on a three day visit to Japan from today to participate in the 6th annual LNG Producers Consumer Conference. The visit is important to enhance the bilateral engagements in the Oil and Gas sectors within the overall framework of India-Japan Energy Dialogue. <br/><br/>An official release said, the visit also aims to enhance cooperation in establishing a transparent, efficient, truly global and balanced Liquefied Natural Gas (LNG) market. Energy Ministers from Qatar, Nigeria, Bangladesh, Japan and other leading hydrocarbon experts will participate in the Conference. <br/><br/>During the visit, Mr Pradhan will discuss the issues of bilateral engagement in the hydrocarbon sector with his Japanese Counterpart Hiroshige Seko. A Memorandum of Cooperation (MoC) is likely to be signed for establishing a Liquid, Flexible and Global LNG Market between India and Japan. <br/><br/>The MoC will provide a framework for bilateral cooperation in facilitating flexibility in LNG contracts and exploring possibilities in establishing reliable LNG spot price indices reflecting true LNG demand and supply.