Management and operation of Australian LNG projects

The Australia Unit manages and oversees Mitsubishi Corporation's (MC) involvement in the North West Shelf (NWS) Project in Western Australia.

This project is one of the world's largest resource development undertakings. MC participates in the project through Japan Australia LNG (MIMI) Pty. Ltd., a 50-50 joint venture with Mitsui & Co. Working together with five international oil companies (The Royal/Dutch Shell Group of Companies, BP, BHP Billiton, Chevron and Woodside Petroleum Ltd.), we are promoting the development and production of energy resources such as natural gas and petroleum. The total production of the project is reaching approximately 680,000 barrels of crude oil equivalent per day. The production capacity of liquefied natural gas (LNG), the project's principal product, has increased to 16.3 million tons per year (or 400,000 barrels of crude oil equivalent per day) as a result of enhancing the production facilities by completing the phase 5 liquefied train in September 2008. Of this amount, approximately 10 million tons (or 240,000 barrels of crude oil equivalent per day) is exported to Japan annually, and supplied to 10 major electricity and gas companies. This represents about one seventh of all the LNG imported into Japan each year.

The Unit is committed to further expanding the scope of its activities and it will seek to develop new business in Australia, a country with rich natural resources.