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Sumitomo Corporation Enters into Comprehensive Agreement with Gas Technology Institute

 Sumitomo Corporation Enters into Comprehensive Agreement with Gas Technology
                                  Institute

Deal Supports Japanese companies in penetrating Shale Gas related businesses

PR Newswire

NEW YORK, Nov. 18, 2013

NEW YORK, Nov. 18, 2013 /PRNewswire/ --Sumitomo Corporation (Head Office:
Chuo-ku, Tokyo; President and CEO: Kuniharu Nakamura) has entered a
comprehensive alliance agreement with Gas Technology Institute (Head Office:
Illinois, USA, Representative: David Carroll, hereinafter, "GTI") to assist
Japanese companies in taking on a larger role in unconventional gas related
businesses.

Unconventional gas development, which gained momentum from the U.S. Shale gas
revolution, said to have begun in 2007, continues to increase and its
possibilities are expanding across the globe. As a result of the many
technological breakthroughs achieved, the amount of recoverable resources has
increased exponentially, and the related markets are also rapidly expanding.
The downhole equipment and related drilling services market is said to be
worth over 40 trillion yen, and to consist of over 25,000 companies. In the
midst of such a growing market situation, GTI and Sumitomo Corporation will
provide Japanese companies with the technology and evaluation techniques that
GTI has acquired over the years as leaders in the oil and gas market. Sumitomo
Corporation aims to make best use of its network to support Japanese companies
in their endeavor to commercialize and expand into the American and global
markets.

GTI has a history of over 70 years as an independent research laboratory, and
has provided both public and private entities with technical solutions
concerning aspects such as the production and processing of shale gas,
transportation, or promoting its use as a cleaner energy source. In the United
States, where the shale gas production is expected to further increase, a
growing number of new businesses making use of the economical natural gas
energy are emerging. Some examples include converting diesel-burning engines
to natural gas-burning engines, and infrastructure projects such as small- to
mid-scale natural gas liquefaction plants and natural gas fueling stations.
GTI already has the latest technology to support such new businesses.

For Sumitomo Corporation, unconventional energy is positioned as one of its
core strategic business areas. It became the first Asian company to acquire a
shale gas reserve when it entered a development agreement with Carrizo Oil and
Gas in the Barnett Basin. Soon after, in 2010, it acquired another project
with Rex Energy in the Marcellus Shale, and in 2012, it entered into an
agreement with Devon Energy to develop the tight oil shale in the Permian
Basin. It is also advancing the Cove Point LNG export project with Dominion,
with the aim to export American LNG to non-FTA countries such as Japan.
Sumitomo Corporation aims to further solidify its presence in the industry in
its other related businesses in Metals, Transportation and Construction
Systems, and Infrastructure, by utilizing the customer and partner network it
has built over the years, with the intention to further expand the
unconventional energy business industry.

About Gas Technology Institute

Established in 1941 and headquartered in Des Plaines, Illinois, GTI is the
leading research, development and training organization addressing energy and
environmental challenges to enable a secure, abundant, and affordable energy
future. For more than 70 years, GTI have been providing economic value to the
natural gas industry and energy markets by developing technology-based
solutions for industry, government, and consumers.

About Sumitomo

Sumitomo Corporation is a leading global trading company, with 116 locations
in 65 countries and 24 locations in Japan. The entire Sumitomo Corporation
Group consists of nearly 800 companies and more than 70,000 personnel. The SC
business is continuously expanding into a diverse range of products and
services. Its core business units are Metal Products; Transportation
&Construction Systems; Environment & Infrastructure; Media, Network, Lifestyle
Related Goods & Services; and Mineral Resources, Energy, Chemical &
Electronics.

SOURCE Sumitomo Corporation of America

Website: http://www.sumitomocorp.com
Contact: Ms. Jewelle Yamada, Phone: 212-207-0574, Mobile: 646-584-9556,
E-mail: jewelle-k.yamada@sumitomocorp.com; Ms. Vanessa Goldschneider, Phone:
212-207-0567, E-mail: vanessa.goldschneider@sumitomocorp.com
 
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