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With eye on Asia, Mitsui plans $1.5bn Mozambique gas investment

Trading house in talks with Thai and Chinese customers as demand grows

Cars stop at a gas station in Bangkok. Mitsui sees opportunities in growing demand for energy in emerging countries.   © Reuters

TOKYO -- Trading house Mitsui & Co. plans to invest roughly $1.5 billion in Mozambique to jointly develop what is estimated to be one of the world's largest gas fields.

The Japanese company is shifting its focus from coal to liquefied natural gas as demand for environmentally friendly energy sources grows. It plans to supply LNG from the African project to Tohoku Electric under a long-term contract and is negotiating with companies in Thailand and China as well.

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