Mitsubishi Corp. to raise LNG investment

Mitsubishi Corp. plans to more than double investment in projects related to liquefied natural gas (LNG) in the period to 2010. A company official told reporters that investments and other expenditure on its LNG business would now come to 400 billion yen (USD 3.32 billion) by 2010 rather than the 170 billion yen seen under its earlier plans. The company said its expansion in the LNG business was in part due to the shrinking of its conventional energy business, which consisted in large part of supplying crude oil and oil products to Japanese industries and oil companies.

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