Japanese Trading House Mitsui Buys Shale Gas Asset in Texas

(Bloomberg) -- Japanese trading house Mitsui & Co. Ltd bought a shale gas asset in Texas that it seeks to bring to full-scale development after 2026.

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Mitsui’s US-based subsidiary purchased the 46,500 acre asset named Tatonka in Texas from Sabana LLC and Vanna LLC, it said Monday, without disclosing a price. It will drill wells to evaluate the site, which has access to liquefied natural gas export terminals and ammonia plants on the Gulf Coast.

Mitsui last year bought a 92% stake in a shale gas asset in South Texas from Silver Hill Eagle Ford, as Japanese companies bet that demand for natural gas will remain strong in the energy transition. Tokyo Gas Co. acquired Rockcliff Energy for about $2.7 billion in a move to expand its US shale business.

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