Mitsui of Japan Secures Texas Gas Asset in Acquisition Deal with Sabana and Vanna

Mitsui & Co., Ltd. ("Mitsui") has successfully acquired a significant unconventional gas asset in Texas, U.S.A., through its U.S. subsidiary Mitsui E&P USA LLC ("MEPUSA"). This acquisition, completed from Sabana, LLC and Vanna, LLC, both U.S.-based Oil & Gas E&P companies, involves a prime asset named Tatonka, covering approximately 46,500 acres. Strategically located with access to the Gulf Coast industrial area, this asset positions Mitsui advantageously for future growth. MEPUSA plans to drill and evaluate well performance, targeting full-scale development post-2026 while ensuring employee safety and environmental sustainability.

The asset, named Tatonka, covers roughly 46,500 acres in Texas, offering strategic proximity to the Gulf Coast industrial zone. This prime location grants access to key infrastructure, including liquefied natural gas (LNG) export terminals and ammonia plants, enhancing logistical efficiency and market reach. MEPUSA plans to drill exploratory wells to evaluate the asset's performance comprehensively. The objective is to advance towards full-scale development after 2026, while emphasizing the highest standards of safety for employees, community welfare, and environmental protection. This initiative aligns with MEPUSA's commitment to sustainable and responsible resource development in a critical energy sector.

Mitsui has articulated the "Global Energy Transition" as a core strategy in its Medium-term Management Plan 2026. Recognizing the pivotal role of natural gas and LNG as practical solutions for energy transition, Mitsui is committed to ensuring a stable energy supply, enhancing quality of life, and fostering sustainable societal development. By advancing its global natural gas and LNG businesses, Mitsui aims to address growing energy demands while supporting environmental goals. The company is focused on expanding its operations and investments in these sectors, leveraging its expertise to drive innovation and efficiency. Additionally, Mitsui's strategy includes enhancing the natural gas value chain and integrating low-carbon technologies, such as Carbon Capture and Storage (CCS), to mitigate environmental impact. Through these initiatives, Mitsui is dedicated to contributing to a resilient and sustainable energy future, aligning with global efforts to transition to cleaner energy sources.

With the increasing demand for natural gas in the U.S. due to the commencement of new LNG projects and growing electricity requirements, Mitsui is actively advancing its natural gas liquefaction and export initiatives. The company is also focusing on methanol production utilizing natural gas. By expanding its upstream development projects, Mitsui aims to strengthen the entire natural gas value chain. Committed to environmental sustainability, Mitsui is incorporating low-carbon and decarbonization strategies into its operations, emphasizing the use of Carbon Capture and Storage (CCS) technologies. These efforts align with Mitsui’s broader goal of achieving a more sustainable and environmentally friendly energy landscape.