CIMA ENERGY, Ltd become the exclusive gas marketing arm for Mitsubishi Corp

July 10, 2008

After months of negotiations and planning, Gray Reed & McGraw attorney Don Looper as counsel helped CIMA ENERGY, Ltd become the exclusive gas marketing arm for Mitsubishi Corp for liquid natural gas brought to the Gulf Coast from Qatar. As part of the deal, Mitsubishi Corp purchased 34 percent of CIMA ENERGY to further Mitsubishi’s reach in the natural gas market. Thus, Mitsubishi will own a portion of CIMA's existing gas marketing network throughout the southern U.S, with offices in St. Louis, Denver and Kentucky. Mitsubishi made the acquisition through two U.S.-based subsidiaries, Mitsubishi International Corp and MC Global Gas Corp. Under the terms of the deal, Houston-based CIMA will market and sell natural gas from Mitsubishi's import operation at the Freeport LNG terminal.

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