Japanese trading house Mitsui is looking to invest in LNG projects across the Middle East, the U.S.
Japanese trading house Mitsui is looking to invest in LNG projects across the Middle East, the U.S. and Australia to meet rising power demand from data centers, Bloomberg News reported on Thursday, citing its CEO Kenichi Hori.
The company will consider taking equity stakes or securing supply agreements in LNG and gas chemicals firms, Hori told Bloomberg News, adding that demand for LNG was booming as companies sought clean energy to power AI infrastructure.
Mitsui told Reuters it could provide functions covering the supply and trading of energy through to power infrastructure to a consolidated entity focused on the supply chain for data centers.
"Without securing energy, it is impossible to implement solutions," Hori told Bloomberg, adding that one possible approach could involve a consolidated entity focused on the entire supply chain for data centers.
Mitsui, in which Berkshire Hathaway BRKa.N owns a 10% stake, is one of Japan's top five trading houses and has a portfolio spanning fossil fuel production and trading, renewable energy and food.
Hori said earlier this month that Mitsui wanted to "capture upside opportunities in the energy sector while remaining cautious".
Japan, one of the world's most vulnerable countries to energy import disruptions, has intensified
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