• 12-Jun-2024

Warren Buffett-Backed Trading Giant's Warning: LNG Shortage Threatens Global Energy Shift

Grand News Network | October 18, 2023

Mitsui & Co.(OTC:MITSY), one of Japan’s leading trading houses, has warned that global demand for liquefied natural gas (LNG) will likely exceed supply expectations, and the current project pipeline will not suffice to meet this demand, especially in the context of the ongoing energy transition. 

What Happened: "Announced projects in the world still won't make up for the supply needed when considering the energy transition that will take several decades,” Kenichi Hori, the President of Mitsui, said, Bloomberg reported

The company, along with other major Japanese trading houses, is deeply involved in fossil fuels. Warren Buffett‘s Berkshire Hathaway (NYSE:BRK) (NYSE:BRKincreased its stake in these firms back in June. 

See Also: Best Energy Stocks for the Week

While LNG is viewed as a cleaner fossil fuel to reduce emissions, tight supply conditions are expected ...

Full story available on Benzinga.com

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