Mitsubishi agreed to buy Aethon Energy Management＊s U.S. gas and pipeline assets for $5.2 billion, the biggest purchase by a Japanese company in the American shale sector.
The deal will give Mitsubishi gas reserves in the Haynesville shale basin in Texas and Louisiana, within easy reach of the U.S. Gulf Coast, from where the fuel can be liquefied and exported on tankers. The trading house is already a key liquefied natural gas supplier and has a stake in Cameron LNG, a U.S. export facility in Louisiana.
Japanese energy companies are looking to expand into U.S. oil and gas following renewed support from President Donald Trump＊s administration, which is pressuring Tokyo to invest more in the North American country. The move also means that Mitsubishi 〞 which counts Berkshire Hathaway as a major shareholder 〞 is doubling down on one of its most profitable businesses: natural gas.
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