AsiaCorporateLNG TerminalsOther Fuels

Mitsubishi says to splash $17.5 billion to reduce emissions

By LNG Prime Staff
Mitsubishi to splash about $17.5 billion as part of decarbonization move
DSLNG plant in Indonesia (Image: Mitsubishi)

Japanese trading house Mitsubishi Corp plans to invest 2 trillion yen ($17.55 billion) by fiscal 2030 in renewable energy, copper, LNG, and hydrogen, as it looks to achieve net zero emissions from its operations.

Mitsubishi said on Monday it plans to halve its greenhouse gas emissions by fiscal 2030 on 2020 levels, and to achieve net zero emissions by fiscal 2050.

“We will utilize every means available, aiming to reduce total emissions to a level consistent with the Paris Agreement, including by replacing assets and by switching operations to renewable energy and alternative fuels,” the firm said.

Mitsubishi said it would continue to invest in LNG and develop “carbon-neutral LNG through responsible use of offsets including CCUS, carbon credits, etc.”

The firm’s unit Diamond Gas International has already delivered carbon-neutral LNG cargoes to Japan’s Toho Gas and to Japex.

LNG is one of Mitsubishi’s core businesses. The firm has stakes in several projects around the globe including in Browse and North West Shelf in Australia, Malaysia, Brunei, Donggi-Senoro, Tangguh in Indonesia, Sakhalin II in Russia, and LNG Canada, according to its website.

Most Popular

Vessels

Golar buys conversion vessel for fourth FLNG

Floating LNG player Golar has agreed to acquire the LNG carrier Grace Dahlia from Japan's NYK Line to convert it into a floating LNG production unit.
LNG Terminals

Cove Point LNG to resume operations after maintenance

Berkshire Hathaway’s unit BHE GT&S is expected to restart its Cove Point LNG export plant in Maryland soon following planned annual maintenance.
Contracts and Tenders

Galp wins Calcasieu Pass arbitration against Venture Global

Portuguese energy firm Galp has won an arbitration case against US LNG exporter Venture Global LNG over LNG sales from the Calcasieu Pass plant in Louisiana.

More News Like This

LNG Terminals

Shell, partners take FID on LNG Canada Phase 2

UK-based LNG giant Shell and its LNG Canada partners have made a final investment decision on the project's second phase, which will double production capacity at the facility in Kitimat, British Columbia.
Vessels

NYK’s LNG carrier named in South Korea

South Korea’s Hyundai Samho hosted a naming ceremony for a new liquefied natural gas (LNG) carrier owned by Japan's NYK and chartered by Mitsubishi’s unit Diamond Global Energy.
Contracts and Tenders

NYK to invest in EIG’s MidOcean

Japan's shipping giant NYK has decided to invest in MidOcean Energy, the LNG unit of US-based energy investor EIG.
Vessels

U-Ming, K Line name LNG carrier in South Korea

Taiwan’s shipowner U-Ming Marine Transport has named the first liquefied natural gas (LNG) carrier in its fleet as part of a joint venture with Japan's shipping giant K Line.