Trader M'bishi to Invest 500 B. Yen to Boost LNG Output in Canada
Tokyo, Sept. 30 (Jiji Press)--Major Japanese trader Mitsubishi Corp. has decided to invest about 500 billion yen in expanding the production capacity of a liquefied natural gas project in western Canada. According to the decision announced Tuesday, the LNG Canada project will aim to double its annual output capacity to 28 million tons in the early 2030s. Mitsubishi and partner firms, includi...
Japanese trading giant Mitsubishi Corp. has announced plans to invest roughly 500 billion yen in expanding the production capacity of an LNG project in western Canada, aiming to double its annual output to 28 million tons by the early 2030s. The investment, made alongside British oil giant Shell PLC, will boost the company's equity stake in the project from 15% to 22%.
Mitsubishi currently exports LNG to Asia and will increase its annual off-take capacity to approximately 4.2 million tons once the expansion is complete, up from 2.1 million tons at present. The company anticipates the additional output will primarily satisfy Japan's demand. The expansion is projected to streamline LNG supply chains, leveraging short shipping routes to critical Asian markets, including Japan.
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