Corporate News – Mitsubishi Corp Divestment of LNG Canada Stake
Mitsubishi Corp, one of Japan’s largest liquefied natural gas (LNG) suppliers, is finalizing the divestment of a 49.9 % interest in a holding company that holds its stake in the LNG Canada project. The transaction, valued at approximately US $1.6 billion, is being executed with Blackstone Credit & Insurance, a unit of the global investment firm.
The sale does not alter Mitsubishi’s LNG offtake volumes or its customer relationships; the company will continue to hold its full share of the project’s LNG supply. The holding company currently off‑takes roughly 2.1 million metric tons of LNG per year from LNG Canada, a Shell‑led export terminal in British Columbia that began production in mid‑2025. Following approval of a Phase 2 expansion that is expected to double the facility’s capacity, volumes are anticipated to rise to about 4.2 million tons annually. Mitsubishi intends to use the proceeds from the sale to enhance capital efficiency while supporting the expansion.
The transaction is part of a broader trend in which investors are selling down stakes in LNG Canada to fund the project’s growth. A separate, larger deal valued at US $3.1 billion has seen a consortium led by Blackstone acquire a 49.9 % stake in the same holding company. In that arrangement Mitsubishi remains the controlling partner and retains full entitlement to the offtake volumes.
The move comes amid a global shift toward diversifying LNG supply sources, with increasing interest in North American projects as geopolitical tensions affect traditional routes. Mitsubishi’s continued focus on maintaining supply security aligns with Japan’s broader strategy of investing in overseas LNG assets and supporting the expansion of LNG export infrastructure.
