Published: June 25, 2024 |

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Mitsui & Co., through its U.S. based subsidiary Mitsui E&P USA (MEPUSA), has completed the acquisition of an unconventional gas asset in Texas from U.S. oil and gas E&P companies, Sabana, LLC and Vanna, LLC.

This asset — Tatonka — is in Texas with access to the Gulf Coast industrial area, which includes liquefied natural gas (LNG) export terminals and ammonia plants. MEPUSA will drill wells to evaluate the well performance and develop and operate the asset aiming for full-scale development after 2026, while maintaining a focus on the safety of employees, the community, and the environment.

In the U.S., where demand for natural gas is expected to increase due to the start-up of new LNG projects and growth in demand for electricity, Mitsui is also promoting liquefaction and export of U.S. natural gas to global markets, and methanol production businesses using natural gas as feedstock.

In addition to proactively pursuing upstream development projects, the company said they will strengthen the natural gas value chain, including adjacent businesses, and work toward achieving further low-carbon solutions and decarbonization through the use of CCS (carbon capture and storage) and other measures.

With a long history in the United States, Mitsui & Co. (U.S.A.) is a wholly owned subsidiary of Mitsui & Co., Ltd., Tokyo, Japan, one of the most diversified and comprehensive trading, investment, and service enterprises in the world. Mitsui & Co. pursues “360° business innovation” that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects.

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