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Mitsubishi acquires all remaining interest in CIMA

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LNG Industry,

Mitsubishi Corp. has announced that it has required all interested in CIMA ENERGY LTD. Mitsubishi has already held a 34% ownership stake since 2008, and acquired the remaining interest through its wholly-owned subsidiary company, MC Global Gas Corp.

CIMA provides services to gas wholesale and end-user customers across the US and Canada, and has a customer base of over 1500. It has a trade volume of approximately 1 billion ft3/d. CIMA will assist the procurement of feed gas and help transport natural gas to MC’s LNG projects. This comes as part of MC’s gradual increased involvement in the LNG industry. For instance, it has participated in the Cameron LNG project, which is located in Louisiana, US, and on a Canada-based LNG project.

The LNG that is produced will be marketed to global markets through a wholly-owned subsidiary of MC – Singapore-based Diamond Gas International Pte Ltd.

Edited from press release by David Rowlands

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