Mitsubishi Corporation Reaches Final Investment Decision on LNG Canada Expansion Project

Mitsubishi Corporation (“MC”) is pleased to announce that, together with its project partners, it has taken a final investment decision (“FID”) on the expansion of the LNG Canada project (the “Project”), in which MC holds an equity interest, and which is already in operation. The expansion is expected to double the Project's liquefied natural gas (“LNG”) production capacity from 14 million tonnes per annum (“mtpa”) to 28 mtpa.

The Project is Canada's first large-scale LNG development and is located in Kitimat, British Columbia. Backed by abundant natural gas resources in Western Canada, the Project benefits from a strategic geographic location that enables relatively short shipping distances to key LNG demand centers in Asia, including Japan. LNG shipments from Canada to Asia do not require passage through major maritime chokepoints, enhancing the reliability of LNG supply from the Project. In addition, the expansion plan will utilize the existing long-distance pipeline and some parts of the existing plant infrastructure, enabling the Project to provide a competitive LNG supply.

Following the expansion, the Project is expected to become one of the world's largest LNG projects, with an annual production capacity of 28 mtpa, equivalent to approximately 40% of Japan's current annual LNG imports (approximately 65 mtpa in 2025). From the early 2030s, when the expansion facilities are expected to commence operations, MC expects to offtake an additional 2.1 mtpa of LNG, bringing its total attributable offtake volume to 4.2 mtpa. Both volumes reflect MC's 15% equity interest.

Natural gas and LNG are expected to remain important components of the global energy mix, providing reliable and affordable energy while contributing to emissions reduction efforts. As global energy demand continues to grow, driven by economic development, population growth, and rising electricity consumption associated with AI and data centers, MC expects LNG to play an increasingly important role in supporting energy security and enabling a pragmatic energy transition.

Since entering the LNG business in 1969, MC has built one of the world’s leading LNG portfolios, with interest in 13 LNG projects globally. Through these investments, MC has engaged across the LNG value chain, from upstream natural gas development and production to liquefaction, transportation, and marketing.

In the LNG Canada project, each project partner independently procures its own feed gas, transports the gas through a 670-kilometer pipeline to the liquefaction facility, and offtakes LNG produced by the Project in proportion to its ownership interest.