Japanese trading house Mitsubishi Corp said on Friday it will buy U.S. shale gas production and infrastructure assets from Aethon Energy Management for $7.53 billion, marking its largest acquisition to date as it deepens its global gas portfolio.
The deal, expected to close in the April–June quarter, gives Mitsubishi a major natural gas foothold in East Texas and Louisiana, close to the U.S. Gulf Coast and emerging LNG export hubs.
Mitsubishi CEO Katsuya Nakanishi said the assets include one of the largest gas reserves in the southern United States, offering high productivity and competitiveness.
He said the acquisition supports Mitsubishi’s goal of capturing rising U.S. gas demand while ensuring stable supplies to overseas markets, including Japan, as the energy transition stretches longer than expected.
The transaction includes $5.2 billion for Aethon’s equity interests and $2.33 billion in net debt, with Aethon likely to buy back up to a 25% stake within six months of closing.
Aethon’s Haynesville shale operations currently produce 2.1 billion cubic feet per day, with output projected to peak at 2.6 Bcf/d in fiscal 2028.
Mitsubishi said the assets should contribute 70–80 billion yen in net profit in fiscal 2027, strengthening its LNG supply chain amid growing power demand from data centres linked to the AI boom.
The deal follows similar U.S. energy investments by JERA and Japan Petroleum Exploration, underscoring Japan’s push to secure gas as a long-term transition fuel.
Mitsubishi plans to fund the purchase through a mix of cash and debt, while its shares fell 2%, underperforming Japan’s broader Nikkei 225 index.