Japanese trading firm Mitsubishi Corp. is expanding its role in the Louisiana and Texas gas industry, announcing a deal to take over $7.5 billion in Haynesville Shale assets from Aethon Energy Management, reports the Houston Chronicle.
The deal, announced late Thursday, marks an expansion not just of Mitsubishi’s investment in American energy but the latest investment from a Japanese firm in the U.S. gas industry. The Japanese government has pledged $550 billion in energy investments to the U.S., and cited gas as a valuable fuel for the country as it looks to meet its own surge in power demand stemming from AI and data centers.
The move is the largest such deal yet for Mitsubishi, which also has liquefied natural gas projects in Australia, Canada and Malaysia, among others. In total, the company has stakes in more than 15 million metric tons of annual LNG output. Aethon Energy, is one of the U.S.’s largest private gas producers, responsible for more than 15 million tons per year of liquefied natural gas output. Read more.
