INTERVIEW: Mitsui Taking Long-Term Approach in Resources Development

Economy

Tokyo, June 7 (Jiji Press)--Mitsui & Co. <8031> is putting a priority on taking a long-term approach in resources development business, Tatsuo Yasunaga, president and chief executive officer of the Japanese trading house, said.

This approach differentiates Mitsui from rivals, Yasunaga said in a recent interview.

He said the company will hold a ceremony in Maputo, the capital of Mozambique, on June 18 to mark a final investment decision on a liquefied natural gas development project in the eastern African country.

Mitsui has spent over 10 years on the project, from exploration, jointly with state-linked Japan Oil, Gas and Metals National Corp., or JOGMEC.

The company has already secured deals to supply 11 million tons of LNG, or over 90 pct of the project's annual production capacity, to clients mainly in Asia over the mid- to long-term.

[Copyright The Jiji Press, Ltd.]

Jiji Press