Some joint exploration for Shale:Nov 30 (Reuters) - Mitsubishi...

Some joint exploration for Shale:

Nov 30 (Reuters) - Mitsubishi Corp has obtained rights to explore shale gas reserves in Australia, becoming the first Japanese company to do so, The Nikkei reported.
Mitsubishi has purchased half of the rights from local firm Blue Energy Ltd for joint exploration. The Japanese trading house will spend about 8 billion yen ($103.05 million) through the end of next year, the Japanese business daily said.

Mitsubishi is keeping up with resource giants from the U.S. and elsewhere, which are rushing to secure shale gas exploration rights in Australia, The Nikkei said.

The company plans to supply natural gas to the local market and also for conversion into liquefied natural gas, the daily said.