Trader M'bishi to Invest 500 B. Yen to Boost LNG Output in Canada

Tokyo, Sept. 30 (Jiji Press)--Major Japanese trader Mitsubishi Corp. has decided to invest about 500 billion yen in expanding the production capacity of a liquefied natural gas project in western Canada.

According to the decision announced Tuesday, the LNG Canada project will aim to double its annual output capacity to 28 million tons in the early 2030s. Mitsubishi and partner firms, including British oil giant Shell PLC, will jointly invest in the capacity expansion.

Mitsubishi, which holds an equity interest of 15 pct in the project, began exporting LNG to Asia in the summer of 2025.

Following the capacity expansion, the company will offtake approximately 4.2 million tons of LNG annually, up from 2.1 million tons at present. Mitsubishi expects the increased output to be supplied mainly to Japan.

The project is expected to help ensure stable LNG supplies by taking advantage of relatively short shipping distances to key demand centers in Asia, including Japan.

[Copyright The Jiji Press, Ltd.]