Mitsubishi Corporation will invest approximately ¥2 trillion in Canadian LNG, with an equity stake of 15%. Its sales rights for Japan currently amount to 2.1 million tonnes per year and are expected to expand in the 2030s, although some of the supply may be directed to countries other than Japan.
Mitsubishi Corporation has announced plans to invest approximately ¥2 trillion in a Canadian LNG project, and its equity stake has been reported at 15%. The investment is positioned as one of the largest by a leading company and is expected to be among the higher equity stakes held by a Japanese company.
In connection with the investment, Japan's domestic LNG offtake rights currently amount to approximately 2.1 million tonnes per year and are explained as likely to increase further in the first half of the 2030s. At the same time, the materials do not clearly state whether the investment assets' output will reach Japan directly, and it has been suggested that some may be supplied to overseas markets.
Japanese companies continue to participate in resource development in other countries, including Azerbaijan, and Mitsubishi Corporation is seen as one of the core players in overseas investment in the oil and natural gas sector, alongside ITOCHU Corporation and INPEX. The focus of debate is the extent of dependence on energy supplies originating in Russia and the diversification of Japan's import arrangements.
On the government side, reports say that the Cabinet's public relations budget amounts to ¥35 billion on an annual basis, with some of the funds also allocated to the Prime Minister's public relations activities. These developments have been cited as part of the domestic debate over energy strategy and the balance of foreign relations.