Mitsui to sell part of Marcellus assets stake for $207 million

Mitsui
Mitsui and Co is selling partĀ of its total interest in a Marcellus shale as project. Reuters file photo by Toru Hanai.

Alta Resources buying Mitsui partial stake

TOKYO, Dec 22 (Reuters) – Japanese trading house Mitsui & Co said on Thursday it has agreed to sell a part of its stake in the Marcellus shale gas project in the United States to Alta Resources Development for $207 million.

The move comes as part of Mitsui’s efforts to improve its energy and mineral resources portfolio and the deal will help it focus its future investments into more productive areas where it will retain its interests, Mitsui said in a statement.

The stake it plans to sell accounts for about 20 per cent of its total interest in the Marcellus shale gas project by output, the company said. Mitsui now has a stake equal to a daily gas production of about 300 million cubic feet.

(Reporting by Yuka Obayashi; Editing by Gopakumar Warrier)

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