BP Sells Stake in Browse Gas Project to Osaka Gas

BP has agreed to sell a 5% stake in Australia's Browse gas project to Japan's Osaka Gas. The move reduces BP's working interest in the project to 34.33%. The Browse project is considered one of Australia's largest undeveloped gas resources and is expected to produce 11 million metric tons per year of liquefied natural gas.

The project, operated by Woodside Energy, continues to progress towards front-end engineering and design as well as securing necessary environmental approvals. Osaka Gas has stated that it expects to secure around 550,000 tons per year of LNG through its stake in the project.