The president of the Japanese petrochemical and refining firm Kazuhisa Nakano is quoted as saying, “Canada is one of the world’s most resource-rich countries and has proven to be a very promising new supplier of gas to Japan.”

The pair will next look into the feasibility of developing liquefaction facilities, with a study expected to be completed by early 2014. If the project passes its feasibility study and gets permits and regulatory approval, it’s expected the business could start as early as 2016.