Mitsubishi, Mitsui Take $2B Stake In Aussie LNG Project

Law360, New York (May 1, 2012, 1:31 PM EDT) -- Japan's Mitsubishi Corp. and Mitsui & Co. continued their globe-hopping energy binge Tuesday, agreeing to buy a $2 billion minority stake in an Australian liquefied natural gas project, as well as much of the gas it produces.

A Mitsui-Mitsubishi joint venture will take a 14.7 percent interest in the $40 billion Browse LNG project from operator Woodside Petroleum Ltd, according to a joint statement issued by the companies.

They will also buy 1.5 million metric tons of LNG each year after the deal is completed and...
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