This will represent the most substantial agreement in the corporation's history and forms a component of a plan designed to reinforce the natural gas supply network.
If the transaction goes through, Mitsubishi will secure a considerable natural gas operation situated near the US Gulf Coast, along with energy export facilities presently under construction there. The company's Chief Executive Officer, Katsuya Nakanishi, mentioned during a press conference that the acquired resources encompass some of the most substantial gas reserves within the southern United States, characterized by “superior output and competitive advantage.”
“Concurrently with capitalizing on the anticipated rise in national gas demand within the US, our intention is to guarantee dependable energy provisions to international users, notably Japan, amidst the likely postponement of the energy transition,” Nakaji stated.
The arrangement incorporates $5.2 billion for procuring Aethon’s ownership stakes and $2.33 billion in net interest-bearing liabilities. Aethon is projected to possess the option to repurchase up to a 25% share in the assets within half a year following the deal’s culmination, anticipated to occur between April and June.
The transaction stands as the latest instance of Japanese firms investing within the US energy domain after Tokyo designated natural gas as a pivotal transitional energy source even beyond 2050, and as the nation gears up for escalating electricity requirements from data centers propelled by the artificial intelligence surge.
Mitsubishi ranks amongst the foremost global entities in the LNG sector across the entire value spectrum, spanning from output to commerce, promotion, and transportation. The enterprise holds interests in LNG ventures across Australia, Canada, Malaysia, Oman, Russia, and the United States, yielding an LNG equivalent of approximately 15 million metric tons annually.
Aethon constitutes one of the largest private gas producers within the United States, concentrating on the Haynesville shale formation in Louisiana and East Texas. The firm’s production capacity reaches 2.1 billion cubic feet of gas daily, equating to roughly 15 million tons of LNG each year.
Mitsubishi projects that production from the assets obtained will reach its highest point at 2.6 billion cubic feet per day in fiscal year 2028, while the contribution to net earnings is predicted to be 70–80 billion yen ($443–506 million) in fiscal year 2027.
A Mitsubishi representative affirmed that the company intends to employ cash reserves, debt financing solutions, and other mechanisms to fund the transaction.
Previously, in October, Japan's premier electricity generator, JERA, revealed strategies to procure gas assets in the US for $1.5 billion, and in December, Japan Petroleum Exploration declared its aim to acquire Verdad Resources Intermediate Holdings, possessing oil and gas resources in the US, for $1.3 billion.
Amidst this backdrop, Mitsubishi shares sustained their downward trend, declining by 2% in concluding trading sessions, whereas the benchmark Nikkei 225 index diminished by 0.3%.
In June, Reuters indicated that Mitsubishi was in discussions to acquire the assets of Aethon Energy Management.