Capcom today announced they are working on a sequel to the popular game, Lost Planet via a trailer on Xbox LIVE in what is most likely an industry first.

The trailer for Lost Planet 2 revealed little some information about the game in regards to the story but not much. It started out as a CGI cut scene but went straight into what looked to be gameplay. Later we’re told it’s almost entirely in-game engine and game play video.

The game takes place on EDN.III but the frozen wastelands are beginning to thaw over the last ten years and climate change is taking hold. Jungles, oceans and more are emerging. The story won’t focus on one character like the previous title instead it will be told from several Pirate group perspectives. The gameplay is said to still be a third-person shooter but has some big changes. Co-op mode looks to be the major announcement.

It’s using the MT-Framework 2.0 engine which is Capcom proprietary and promises a better looking game all around.

GDN is working hard to get the video to you here.