Mitsui is pursuing the development of upstream projects. Credit: MITSUI & Co.

Mitsui & Co, through its subsidiary Mitsui E&P USA (MEPUSA), has acquired an unconventional gas asset in the US state of Texas from Sabana and Vanna.

The companies did not disclose the financial terms of the deal.

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The asset, named Tatonka, spans approximately 46,500 acres and is strategically located with access to liquefied natural gas (LNG) export terminals and ammonia plants on the Gulf Coast.

MEPUSA plans to commence drilling operations to assess well performance. The company intends to develop and operate the Tatonka asset with plans for full-scale development after 2026.

Mitsui is pursuing the development of upstream projects and boosting the natural gas value chain, including adjacent businesses.

It is also promoting US natural gas liquefaction and export to global markets, as well as methanol production using natural gas as feedstock.

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In a press statement, Japanese trading house Mitsui said: “With natural gas and LNG playing an important role as “real solutions” for energy transition, Mitsui will continue to contribute to the stable supply of energy, the enrichment of people’s lives and the sustainable development of society by further promoting its global natural gas and LNG businesses.”

Last year, Mitsui & Co purchased around a 92% stake in an unconventional gas asset in Texas, US, from Silver Hill Energy Partners’ subsidiary Silver Hill Eagle Ford E&P, for an undisclosed sum.

The unconventional gas asset, part of the Hawkville field, is located in South Texas with access to the Gulf Coast industrial area.

Mitsui anticipates producing additional gas from the asset with further development.