Japanese Company to Invest Billions in U.S. Natural Gas

The Wall Street Journal reports that Tokyo-based Mitsui & Co. will make a $1.4 billion investment to develop natural gas reserves in Pennsylvania’s Marcellus Shale. As the Journal notes, “shales are widely credited with creating a gas-production boom in the U.S., where shales have become a hotbed of drilling activity.”

Mitsui controls a joint venture that will take a stake in a project held by Anadarko Petroleum, which has approximately 715,000 acres in the Marcellus. It is anticipated that over the next decade Mitsui will spend between $3 billion and $4 billion to develop its portion of the project.

With 154 offices in 66 countries, Mitsui is a global giant and is the most recent international company to recognize the potential of North America’s enormous natural gas reserves. Norway’s Statoil ASA and France’s Total SA have already committed to similar sized investments.

Read more HERE.