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Global energy firms announce LNG Canada
Shell Canada Limited, Korea Gas Corporation (KOGAS), Mitsubishi Corporation, and PetroChina Company Limited today announced they are jointly developing a proposed liquefied natural gas (LNG) export facility near Kitimat, British Columbia. The LNG Canada project ( - opens in new window) brings together the four companies’ extensive development experience, technical depth, financial strength and access to markets required to be the leading LNG developer in Canada. LNG Canada would connect the abundant supply of Canadian natural gas to growing markets around the world. This also begins the formal consultation process with First Nations and local community residents regarding the project.

date.png15 May 2012 19:33 | comments.png 0 Comments | tags.png canada kogas lng mitsubishi n-america petrochina shell [ More ]

Offer for Sale of Browse Equity and LNG Volumes
Woodside advises that it has accepted an offer from Japan Australia LNG (MIMI Browse) Pty Ltd (MIMI) to purchase a minority portion of Woodside’s equity in the proposed Browse LNG Development for US$2 billion, subject to joint venture pre-emption rights. The effective date is 1 January 2012.

date.png01 May 2012 08:18 | comments.png 0 Comments | tags.png australia lng mitsubishi mitsui woodside [ More ]

MCO Receives Order for 9 Compressors For Ichthys LNG Project in Australia
Mitsubishi Heavy Industries Compressor Corporation (MCO), a wholly owned subsidiary of Mitsubishi Heavy Industries, Ltd. (MHI), has received an order for nine compressors and seven motors to drive compressors for the Ichthys LNG Project. The equipment on order, which gives MCO a key role in the first large-scale LNG development project led by a Japanese company, will be sequentially delivered beginning in August 2013.

date.png26 Mar 2012 06:29 | comments.png 0 Comments | tags.png australia engineering inpex lng mitsubishi total [ More ]

Talisman Energy and Mitsubishi Announce Strategic Joint Venture in Papua New Guinea
Talisman Energy Inc and Mitsubishi Corporation (MC) have reached agreement on MC’s entry into nine of Talisman’s licenses in Papua New Guinea’s onshore Western Province, via a farmout from Talisman effective January 1, 2012, subject to approvals by Government and joint venture partners. The deal is valued at approximately US$280mm and will be paid in the form of a capital carry. Following the farmout, Talisman and MC licensed equity positions will average 40% and 20% respectively in these nine licenses.

date.png24 Feb 2012 09:30 | comments.png 0 Comments | tags.png deals mitsubishi papua-new-guinea png talisman upstream [ More ]

Mitsubishi Corporation to Invest in Encana's Natural Gas Development Project in British Columbia, Canada
Mitsubishi Corporation (“MC”) has announced that today it has agreed to acquire a 40% Partnership interest in the Cutbank Ridge Partnership (“CRP”), which was formed to develop a natural gas asset located in the Montney land of northeastern British Columbia, Canada. CRP was originally formed by Encana Corporation (Headquarters: Calgary), Canada’s largest natural gas producer, and an Encana affiliate. CRP holds 409,000 net acres of high-quality undeveloped Montney land, plus additional undeveloped similar size land targeting other opportunities including Cadomin and Doig geological formations. The transaction is scheduled to close by the end of February 2012.

date.png20 Feb 2012 13:54 | comments.png 0 Comments | tags.png canada encana mitsubishi upstream [ More ]

Encana and Mitsubishi enter into partnership for development of.
Encana Corporation (TSX, NYSE: ECA) has entered into an agreement with Mitsubishi Corporation that will see the Japanese global integrated business enterprise invest approximately C$2.9 billion for a 40 percent interest in the Cutbank Ridge Partnership. The Partnership holds about 409,000 net acres of Encana's undeveloped Montney-formation natural gas lands in the company's Cutbank Ridge resource play in northeast British Columbia. Through the Cutbank Ridge Partnership, Encana and Mitsubishi plan to create long-term shareholder value by jointly developing production capacity to deliver abundant natural gas to markets for decades ahead.

date.png18 Feb 2012 09:46 | comments.png 0 Comments | tags.png canada encana mitsubishi upstream [ More ]

Mitsubishi Corporation Signs Agreement for Natural Gas Joint Venture with Iraq and Shell
The Iraqi Ministry of Oil (MoO) formally signed a joint venture agreement with Shell, the South Gas Company (SGC), an affiliate of MoO, and Mitsubishi Corporation (MC) on an initiative to capture associated gas in South Iraq.

MC made an agreement with Shell to take a 5% interest in the project in August 2009. Following the Iraq government approval made on 15th November this year, SGC, Shell and MC have signed agreements associated with the project. These agreements create the Basrah Gas Company (BGC) Joint Venture, made up of Iraq's SGC (51%), Shell (44%) and MC (5%).

Some 700 million standard cubic feet per day of natural gas (5 million tonnes per year), which is produced by upstream suppliers in association with oil, is currently flared every day in southern Iraq because of a lack of infrastructure to collect it.

It will collect raw gas from the Rumaila, Zubair and West Qurna 1 fields in southern Iraq, and process that gas into valuable products, such as natural gas, condensate and liquefied petroleum gas (LPG), initially for sale domestically in Iraq. By capturing and processing this natural gas, BGC aims to create an important and reliable supply of domestic energy, reduce unnecessary greenhouse gas emissions and create significant value for Iraq.

In the future, once the local demands are met, and previous approval by the Iraqi authorities, BGC could develop a liquefied natural gas (LNG) facility to also export natural gas to create a new benefit for Iraq's economy and contribute stable energy supply to mainly Japan.

BGC will promote feasibility study and aim to start operation from 2013 (2 billion standard cubit feet per day of natural gas at maximum). As a new partner in BGC, MC brings knowledge of the existing South Gas Company facilities and complementary technical and commercial capabilities in order to enhance the value of the project.

Tetsuro Kuwabara, Mitsubishi Corporation's Senior Vice President, said "Mitsubishi has been doing business in Iraq for over 50 years and are honored to be able to participate in this large-scale energy Joint Venture with Iraqi Ministry of Oil and South Gas Company. We aim to contribute to the country through the project and hope to further enhance the relationship between Republic of Iraq and Mitsubishi. We have had a long and close alliance with Shell for over 40 years in the global energy sector and are delighted to be the strategic partner in this project. We have a strong support from the Japanese Government and government financial institutions such as Nippon Export Investment Insurance."

date.png29 Nov 2011 10:22 | comments.png 0 Comments | tags.png iraq mitsubishi shell upstream [ More ]

Iraq natural gas joint venture gets final approval
The Iraqi cabinet today approved an agreement with Royal Dutch Shell ("Shell") and Mitsubishi Corporation, forming a joint venture to gather raw gas from three major oil fields, adding an important domestic energy source for Iraq and offering the potential for gas exports.

date.png16 Nov 2011 06:27 | comments.png 0 Comments | tags.png gas iraq mitsubishi shell upstream [ More ]

MHI to Build First "Sayaendo" New-generation LNG Carrier
Mitsubishi Heavy Industries, Ltd. (MHI), has agreed with Osaka Gas International Transport Inc. (OGIT), a group company of Osaka Gas Co., Ltd., and Mitsui O.S.K. Lines, Ltd to build two new-generation liquefied natural gas (LNG) carriers. The event will represent the first construction of the "Sayaendo" Series, which significantly improves fuel consumption and maintainability through various features, including enhancement of ship structure efficiency. Two LNG carriers are slated for delivery in 2014 and 2015, respectively.

date.png01 Nov 2011 07:13 | comments.png 0 Comments | tags.png lng mitsubishi mitsui osaka-gas ships [ More ]

Iraqi Oil ministry signs initially a contract with Shell and Mitsubishi
Mr. Abdulkarem Liaybi, the Iraqi oil minister announced that the Iraqi ministry of oil signed initially an agreement with shell & Mitsubishi to put the final form for the contract of developing the southern gas fields, and this agreement will be shown to the council of ministers to be certified.

date.png25 Jul 2011 07:18 | comments.png 0 Comments | tags.png iraq mitsubishi shell [ More ]
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