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    Japan's Toyota Tsusho Steps Up Investment in Australia CBM Project

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Summary

Toyota Tsusho Corp plans to increase its investment in a coal bed methane project under way in Australia to 25 billion yen (US$322 million) and the joint-venture production is slated to begin in 2014.

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Japan's Toyota Tsusho Steps Up Investment in Australia CBM Project

Toyota Tsusho Corp plans to increase its investment in a coal bed methane project under way in Australia to 25 billion yen (US$322 million) and the joint-venture production is slated to begin in 2014.

The company acquired a 15 percent stake in a CBM project in the state of Queensland for roughly 8 billion yen from British energy giant BG Group in 2009.

Extracted methane will be supplied to a BG Group firm's liquefaction facilities, which will convert it into LNG for sale to Japanese electric and gas companies.

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