Services & Products
Energy Business Unit I
A leading integrated energy player
- Exploration, development and production of oil, natural gas and other energy resources
- Trading and marketing of oil, petroleum products, coal, uranium and other energy resources
- Development of next-generation energy and environmental business
Aiming for zero-emission generation from coal-fired power stations (02:10)
Successfully completed test operation of oxyfuel combustion technology on Callide-A, currently working on commercialization
Building a balanced energy resource portfolio and developing a value chain business
Energy Business Unit I aims to maintain a well-balanced energy resource portfolio and to develop a value chain business while establishing a stable supply system to meet growing energy demand.
Mitsui's core oil and natural gas assets for exploration, development and production are based in the Middle East, Southeast Asia, Oceania, North America, and Europe. In addition to pursuing opportunities for the expansion of our existing business, we are continuously seeking new robust upstream resource business opportunities, including unconventional resources such as shale gas and oil and participation from the exploration stage. Through these activities, we intend to build a sizable business portfolio that is balanced in terms of geography, products, development phases and partners. We will also utilize Mitsui's comprehensive strengths to build a value chain that leverages our U.S. shale gas and oil business in such areas as chemicals, liquefaction facilities and other plants, and steel products for drilling and ships. We are also pursuing the development of new technologies such as the commercialization of clean coal technology.
To strengthen our downstream oil activities in Asia, where demand is expected to grow, we have moved our base of operations from Japan to Singapore, and we conduct our global crude oil and petroleum product trading and marketing primarily through Mitsui & Co. Energy Trading Singapore Pte. Ltd. We are also strengthening our coal marketing activities, focusing on the Asian market, along with imports of coal for domestic customers. Furthermore, we contribute to stable nuclear power generation through our nuclear fuel cycle business and uranium trading activities. Our goal is to stabilize energy security, and we will constantly endeavor to enhance our trading activities to meet various customer needs.
Statement about the Management of Radioactive Materials
A wholly owned subsidiary of Mitsui & Co. in the United States purchases and sells uranium concentrate. However, the scale of business is extremely limited in terms of value and quantities handled when seen in the context of Mitsui & Co.'s overall business operations. Furthermore, the materials are not physically relocated and do not leave the storage facility. The storage contractor to which the materials are entrusted has been licensed by the U.S. Nuclear Regulatory Commission (NRC) to handle radioactive materials and ensures that the employees in its storage facility comply stringently with NRC standards concerning the management of radioactive materials and the risk of exposure. The storage contractor also undergoes regular inspections by the NRC. On this basis, we believe that the risk that uranium concentrate owned by Mitsui & Co.'s subsidiary will damage the local environment or cause exposure is quite limited. All of the uranium concentrate handled is intended solely for peaceful, civilian purposes, such as power generation, and is compliant with all NRC regulation. Note that Mitsui & Co. and its subsidiary stringently ensure compliance with NRC management standards (including those for nuclear waste) in handling the materials, but no nuclear waste is handled whatsoever.
Development of next-generation energy and environmental business
We aim to develop projects that support the prevention of global warming and realization of a low-carbon society through environmental and next-generation energy initiatives, including the commercialization of renewable energies such as biofuels, development of next-generation energy sources, and development of a hydrogen transportation and storage model.
In 2014, we invested in Lanza Tech, a venture company that is developing a gas fermentation process technology using microorganisms, and in 2015, we completed the Callide Oxyfuel Demonstration Project in Australia, successfully demonstrating Oxyfuel technology which captures CO2 emitted from coal-fired power plants.
In February 2017, we started to sell electricity generated at a fixed price under the Feed-in-Tariff Scheme for Renewable Energy at our wood biomass power plant in Tomakomai, Hokkaido.
- Vincent oil field development and production projects (Australia)
- Gulf of Thailand oil and natural gas field development and production project (Thailand)
- Oman oil and natural gas development and production project (Oman)
- Marcellus shale gas development and production project (U.S.A.)
- Eagle Ford shale oil and gas development and production project (U.S.A.)
- Alba oil field development and production projects (North Sea, U.K.)
- Tempa Rossa oil field development and production project (Italy)
- Downstream oil activities in Asian market through Mitsui & Co. Energy Trading Singapore Pte. Ltd. (Singapore)
- Kaikias deep-water project in the Gulf of Mexico (U.S.A)
- Apr. 18, 2018
- Notification of Further Extension on Takeover Offer to Acquire AWE Limited, an Oil and Gas Company in Australia
- Apr. 4, 2018
- Takeover Offer to Acquire AWE Limited, an Oil and Gas Company in Australia Declared Unconditional
- Mar. 15, 2018
- Notification of Extension on Takeover Offer to Acquire AWE Limited, an Oil and Gas Company in Australia