Mitsubishi, Mitsui end deal They refrain from buying LNG from Browse after delays to the project

SYDNEY: Mitsubishi Corp, Japan’s biggest trading company, and Mitsui & Co withdrew from an agreement to buy liquefied natural gas from Woodside Petroleum Ltd’s Browse venture in Australia after delays to the project.

The Mitsui and Mitsubishi venture, Japan Australia LNG Pty, won’t go ahead with the purchase of about 1.5 million tonnes of LNG annually from Browse because the deal depended on the project reaching an investment decision by the end of 2013, Perth-based Woodside said in a statement.