Japanese trading giant Mitsui & Co., Ltd. is seeking investments in liquefied natural gas (LNG) projects in the Middle East, the United States, and Australia to meet the growing electricity demands of data centers, according to President and CEO Kenichi Hori.
In an interview, Hori stated that the company will consider acquiring equity in LNG and natural gas chemical companies or entering into supply agreements. He noted that LNG demand is booming as companies seek cleaner energy sources to power artificial intelligence infrastructure.
Mitsui & Co., one of Japan's five major trading houses, counts Berkshire Hathaway as a shareholder with a 10% stake. Its operations span fossil fuel production and trading, renewable energy, and food sectors.
Hori indicated earlier this month that Mitsui aims to "seize opportunities in the energy sector while maintaining caution."
In the recent interview, Hori mentioned that Mitsui already holds a stake in the LNG export facility operated by Abu Dhabi National Oil Company (ADNOC) in Ruwais and is considering further investments in the Middle East.
Last year, the company signed a long-term agreement with Venture Global for the annual supply of one million metric tons of LNG.
Mitsui is also collaborating with Woodside Energy on the Northwest Shelf project in Australia, which is the country's oldest and second-largest LNG plant.
Comments