NHK has learned that Japan plans to propose at an upcoming conference creating a framework to prepare for a future supply crunch of LNG.

Officials from countries that produce and consume liquefied natural gas are set to meet in Tokyo on Tuesday amid concerns over securing stable supplies.

The LNG Producer-Consumer Conference brings together government and company officials from 15 countries and territories, including Japan, the United States, South Korea and the European Union.

LNG prices surged following Russia's invasion of Ukraine, which forced some countries to switch from Russian natural gas to liquefied natural gas from other countries.

Under the scheme, the International Energy Agency will monitor where consumer countries are procuring gas and how much they stock, and give advice to those unprepared if necessary. In the event of a supply crunch, the agency will ask countries with ample stockpiles of gas to divert some of the fuel to those in need.

Officials say Japan's plan is similar to the existing IEA framework for petroleum.