Mitsubishi buys Canadian assets

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Mitsubishi Corporation has agreed to buy 40% of Encana’s natural gas development project in the Montney shale play in north-eastern British Columbia, western Canada, which has total estimated recoverable resources of more than 35 Tcf.  The companies plan to invest more than CAD$6 billion over the next five years to develop the project, which is expected to have more than 50 years of production life and reach production of more than 3 Bcf/d. Mitsubishi is already developing the Cordova Embayment project in British Columbia with plans to export LNG.

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