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Nine Japanese companies were jointly awarded a contract for the "Feasibility study of the Natural Gas Hydrate ("NGH") ocean transportation chain" by Japan Oil, Gas and Metal National Corporation ("JOGMEC").

Dec. 5, 2007


Mitsui & Co., Ltd.
Mitsui Engineering & Shipbuilding Co., Ltd.
NGH Japan Co., Ltd.


Main Contents

Mitsui & Co., Ltd. ("Mitsui") and Mitsui Engineering & Shipbuilding Co., Ltd. ("MES") and NGH Japan Co.,Ltd. ("NGHJ") which is a joint venture between MES and Mitsui has participated in the public invitation of a design proposal for the "Feasibility study of the NGH ocean transportation chain'' announced by JOGMEC together with 6 other Japanese major natural gas related companies (in total 9 companies, including Mitsui, MES and NGHJ) and awarded a contract for commission of the study.

The purposes of the survey are to verify the economic feasibility of next generation natural gas supply chain by NGH and study the competitiveness to mini-Liquefied Natural Gas ("LNG") and Compressed Natural Gas ("CNG"), and to plan out the verification project in order to commercialize the NGH technology by utilizing the technical knowledge and various know how which the 9 Japanese major natural gas related companies have.

NGH is the artificially formed material in sherbet state which can hold 170 times of natural gas as cubical content and stabilizes at a temperature of minus 20 degrees Celsius at atmospheric pressure.

NGH is expected to be able to provide the solution for the stranded gas field monetization, which is presumed to be difficult to develop economically with LNG which is produced by cooling natural gas at a temperature of minus 162 degrees Celsius. Recently, technical developments related to NGH are required to accelerate also from a Japanese national energy security point of view.

Mitsui, MES and NGHJ are aiming to be the pioneer for the commercialization of NGH supply chain in the world by strengthening the relationship with Japanese major natural gas related companies through this survey.

Outline of study

  1. Feasibility study of NGH supply chain.
  2. Planning of the verification project.

Contract period of study

From November 2007 till March 2008 (Subject to extension depending on study plan)

9 companies and each primary study sector

Management of study NGH Japan Co., Ltd.
Upstream development INPEX Corporation
Japan Petroleum Exploration Co.,Ltd.
Ocean transportation Mitsui O.S.K. Lines,Ltd.
NYK Line
Industrial utilization The Chugoku Electric Power Co.,Inc.
Tokyo Gas Co., Ltd.
NGH technology Mitsui Engineering & Shipbuilding Co., Ltd.
Marketability Mitsui & Co., Ltd.
Image of NGH production and export facility Image of NGH production and export facility
Image of Fiery NGH Image of Fiery NGH

Conceptual flow of the study

Conceptual flow of the study

Notice:
This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
This press release is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.

Information

For inquiries on this matter, please contact

Mitsui & Co., Ltd.
Corporate Communications Division
Telephone: +81-3-3285-7596
Facsimile: +81-3-3285-9819
Mitsui Engineering & Shipbuilding Co., Ltd.
Public Relations Department
Telephone: +81-3-3544-3147
NGH Japan Co., Ltd. ("NGHJ")
Telephone: +81-3-3544-3555