Mitsubishi Corp boosts gas procurement options in USA

Japan’s Mitsubishi Corporation on Wednesday informed it has acquired the remaining stake in Cima Energy, a Houston-based oil and gas marketer through MC Global Gas Corporation. 

Since 2008, Mitsubishi Corporation has held a 34 percent stake in CIMA, according to the company’s statement.

Mitsubishi Corporation claims the deal will strengthen its LNG value chain as Cima will play a major role in assisting feed gas procurement as well as the transportation and delivery of natural gas to Mitsubishi Corporation’s LNG projects.

The Japanese company has a stake in the Cameron LNG project in Louisiana and also participates in the development of natural gas resources and an LNG project in Canada.

Produced liquefied natural gas from the US projects will be delivered to Japan and Europe as well as Asian markets through its Singapore-based LNG trading arm Diamond Gas International.

LNG World News Staff