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Nikkei Business Report

Friday, 17 May 2013 | 4:40 AM ET

Mitsui, Mitsubishi and Nippon Yusen reached a joint venture agreement with the U.S. firm Sempra Energy. The project, estimated to cost $10 billion, plans to produce 12 million tons of liquefied natural gas a year by 2017, or equivalent to 10% of annual Japanese demand. The Nikkei's Sachiko Kishida reports.