Bloomberg News reports that Mitsui is looking to invest in LNG to meet the power needs of data centers.

Bloomberg News reported on Thursday that the CEO of Mitsui, Kenichi Hori, is looking to invest in LNG projects across the Middle East, U.S.A., and Australia to meet the rising demand for power from data centers.

Hori, a Bloomberg News reporter, said that the company would consider securing equity stakes in gas and LNG companies or signing supply agreements. He added that LNG demand was on the rise as more companies sought clean energy for AI infrastructure.

Mitsui said it could offer 'functions ranging from the supply and trading energy to power infrastructure, to a consolidated entity focused solely on the data center supply chain.

Berkshire Hathaway has a 10% stake in the company. It is one of Japan’s five largest?trading companies and its portfolio includes fossil fuel production, trading and renewable energy, as well as food.

Hori stated earlier this month, Mitsui wished to "capture the upside opportunities in energy while remaining cautious".

Japan, which is one of the most vulnerable countries in the world to disruptions of energy imports, has pledged billions of dollars to help cushion the economic shock caused by the Iran War and the closure of the Strait of Hormuz.

Hori, a Bloomberg reporter, said that Mitsui has already expressed an interest in Ruwais LNG export facility owned by Abu Dhabi National Oil Co.

The company signed an agreement last year with Venture Global for the supply of 1.0 million metric tons of?LNG per annum.

Mitsui and Woodside are also partners in Australia's North West Shelf Project, which is the country's second largest LNG plant. (Reporting from Mexico City by Fabiola Aramburo; Additional reporting in Bengaluru by Rishabh Jaisewal; Editing by Subhranshu S Ahu)

(source: Reuters)