Mitsui seeks LNG investments to meet power demand from data centers, Bloomberg News reports

• Mitsui CEO Kenichi Hori cited booming LNG demand driven by companies seeking clean energy to power AI infrastructure and data centers
• The company already secured a long-term agreement with Venture Global in 2023 to supply 1.0 million metric tons per annum of LNG
• Japan's energy security concerns have intensified due to vulnerability to import disruptions, particularly risks related to the Strait of Hormuz closure

Summary: Mitsui Seeks LNG Investments for Data Center Power Demand

Japanese trading house Mitsui & Co. is pursuing LNG investments across the Middle East, U.S., and Australia to capitalize on surging power demand from data centers, CEO Kenichi Hori told Bloomberg News on May 28.

Key Investment Strategy

Mitsui plans to:

• Take equity stakes or secure supply agreements in LNG and gas chemicals firms
• Target regions: Middle East, United States, and Australia
• Focus on meeting demand from AI infrastructure requiring clean energy

Company Background

• One of Japan's top five trading houses
• Berkshire Hathaway owns a 10% stake
• Portfolio spans fossil fuels, renewable energy, and food sectors
• CEO Hori stated earlier this month the company aims to "capture upside opportunities in the energy sector while remaining cautious"

Existing LNG Positions

Mitsui already holds significant LNG interests:

• Stake in Abu Dhabi National Oil Co.'s Ruwais LNG export facility (considering further Middle East investments)
• Long-term agreement with Venture Global for 1.0 million metric tons per annum of LNG supply (signed in 2023)
• Partnership with Woodside in Australia's North West Shelf, the country's second-largest LNG plant

Market Context

The expansion comes as Japan intensifies energy security efforts, being one of the world's most vulnerable countries to supply disruptions. Recent geopolitical concerns, including potential closure of the Strait of Hormuz, have prompted billions of yen in government support measures.

The move reflects growing recognition that AI and data center expansion is driving substantial increases in power demand, positioning LNG as a preferred "clean energy" transition fuel.