Mitsubishi Corporation (MC) has agreed to acquire all equity interests in Aethon for a total investment of US$5.2bn, marking the Japanese group’s entry into the US shale gas business, after it reached an agreement with Atheon’s existing shareholders (Mitsubishi press release, 16/01/2026). With a current production of 2.1 bcf/d (21.7 bcm/year), Atheon is a gas producer with shale assets primarily located in the Haynesville Shale formation, spanning Texas and Louisiana. This formation is a significant supply source for the southern US gas market and offer access to several LNG export terminals, including Cameron LNG where MC holds liquefaction capacity rights under a tolling agreement.
In 2024, the United States exported 121 bcm of LNG, according to Enerdata’s Global Energy & CO2 Data, with Japan accounting for 8% of total US exports. Japan was the world’s second largest importer of LNG in 2024, with 96 bcm.