Mitsui & Co. said May 1 that it is joining the Browse LNG Project off the coast of Western Australia.
The project is promoted by Woodside Petroleum through Japan Australia LNG (MIMI) Pty, a 50-50 joint venture between Mitsui and Mitsubishi Corp.
By participating in the project and using expertise gained through its participation in North West Shelf LNG project, Mitsui will further enhance its LNG business in Australia and aims to contribute to the reliable supply of energy to Japan and the East Asian region.
MIMI subsidiary Japan Australia LNG (MIMI Browse) Pty signed a sales and purchase agreement with Woodside subsidiary Woodside Browse Ltd. on April 30.
The closing of the transaction is expected in the third quarter of 2012, after Australian government approval and other project partners' waiver of their pre-emption rights.
The project aims to commercialize natural gas and condensate from the Browse gas and condensate fields off Western Australia. Gas and condensate will be brought to Kimberley, and then processed, liquefied and shipped by the Woodside's subsidiary.
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