TOKYO -- Japanese trading house Mitsubishi Corp. will deepen its presence in Malaysian liquefied natural gas projects by nearly 60% in terms of production capacity, a move that will help Japan diversify its energy sources, Nikkei has learned.
Mitsubishi by the end of fiscal 2024 will acquire a 10% interest for roughly 10 years in a natural gas liquefaction plant in Sarawak, operated by Malaysian state energy group Petronas. Mitsubishi previously held a 4% stake in the project before the contract ended in fiscal 2022.
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