Mitsubishi Enters Haynesville with $5.2 Billion Shale Gas Acquisition
Mitsubishi is entering the U.S. shale gas sector with a $5.2 billion acquisition of Aethon’s Haynesville gas assets, gaining 2.1 billion cubic feet per day of supply with access to Gulf Coast LNG export markets.
(P&GJ) — Mitsubishi Corporation has agreed to acquire the Haynesville Shale gas business operated by Aethon Energy Management, marking the company’s entry into U.S. shale gas production across the value chain.
The transaction includes the acquisition of all equity interests in Aethon III LLC, Aethon United LP and related entities for a total equity investment of approximately $5.2 billion. Mitsubishi reached the agreement on Jan. 16 with Aethon Energy Management and existing stakeholders, including Ontario Teachers’ Pension Plan and RedBird Capital Partners.
The deal is expected to close in the first quarter of Japan’s fiscal year, between April and June 2026, subject to customary regulatory approvals.
Aethon’s assets are concentrated in the Haynesville Shale across Louisiana and East Texas and currently produce about 2.1 billion cubic feet per day of natural gas, equivalent to roughly 15 million metric tons per year of LNG.
Mitsubishi said the acquisition strengthens its integrated North American energy platform, which already includes upstream shale gas development in Canada, midstream marketing and logistics operations in Houston, LNG export exposure through LNG Canada and Cameron LNG, and power generation assets in the United States.
Haynesville gas provides direct access to the U.S. Gulf Coast market and multiple LNG export terminals, including Cameron LNG, where Mitsubishi holds liquefaction capacity rights under a tolling agreement. Gas produced from the Aethon assets is currently sold into the southern U.S. market, with a portion under consideration for LNG exports to Asia, including Japan, and to Europe.
Mitsubishi said the acquisition supports its Corporate Strategy 2027, which prioritizes building integrated energy value chains. The company plans to leverage the Haynesville position to expand its U.S. natural gas and LNG footprint while supporting downstream opportunities tied to power generation, data centers and chemicals.