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Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) through its U.S. based subsidiary has completed the acquisition of approx. 92% working interest in an unconventional gas asset in Texas, U.S.A. from the operator, Silver Hill Eagle Ford E&P, LLC, a subsidiary of Silver Hill Energy Partners, LP.
This asset (a part of the Hawkville field, approx. gross 8,500 acre) is in South Texas with access to the Gulf Coast industrial area, which includes liquefied natural gas (LNG) export terminals and ammonia plants. Additional gas production is expected from this asset with further development and Mitsui E&P USA LLC, a wholly owned subsidiary of Mitsui, will develop and operate the asset, aiming for stable gas production of over 200 million cubic feet per day from the field, while maintaining a focus on the safety of employees, the community, and the environment.
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, we 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.
Mitsui believes that natural gas and LNG will play an important role as a "pragmatic solution" for energy transition, and we will continue to contribute to stable energy supply, enhanced quality of life, and sustainable development of society by further promoting our global natural gas and LNG businesses.
“Build brighter futures, everywhere” as our corporate mission, and to gain the trust and expectations of our stakeholders to realize a better tomorrow for earth and for people around the world, we have identified five material issues (“Materiality”) for Mitsui’s sustainable growth. We anticipate this particular project/ business to contribute especially to the realization of “Secure sustainable supply of essential products” and “Enhance quality of life” and “Create an eco-friendly society”
Secure sustainable supply of essential products
Enhance quality of life
Create an eco-friendly society
Develop talent leading to value creation
Build an organization with integrity