Japan’s Mitsui & Co has acquired around a 92% stake in an unconventional gas asset in Texas, US, from Silver Hill Energy Partners’ subsidiary Silver Hill Eagle Ford E&P.
Financial terms of the deal were undisclosed.
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A part of the Hawkville field, the unconventional gas asset is located in South Texas with access to the Gulf Coast industrial area, which comprises ammonia plants and liquefied natural gas (LNG) export terminals.
Mitsui expects to produce additional gas from the asset with further development.
The asset is scheduled to be developed by Mitsui subsidiary Mitsui E&P USA to enable production of more than 200 million cubic feet of gas per day from the field.
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In addition, Mitsui is promoting US natural gas liquefaction and export to global markets, as well as the production of methanol using natural gas as feedstock.
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By GlobalDataThe company is also pursuing development of upstream projects and boosting the natural gas value chain, including adjacent businesses.
Mitsui aims to achieve further low-carbon solutions and decarbonisation through measures including the use of carbon capture and storage.
In a press statement, Mitsui said: “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.”
