Osaka Gas Acquires 5% Browse Project Stake in Western Australia
Osaka Gas has acquired a 5% stake in the Browse Project, an offshore natural gas development off Western Australia. The acquisition is through Osaka Gas's group entity, Osaka Gas Browse Pty Ltd (OGB), which will be jointly funded by Osaka Gas Australia and the Japan Organization for Metals and Energy Security (JOGMEC).
The Browse Project is expected to produce approximately 11 million tonnes per annum of LNG at plateau production. With its new stake, Osaka Gas will secure around 550,000 tonnes per year of LNG from the development.
The project's carbon capture and storage (CCS) integration aims to reduce the carbon intensity of LNG production. The acquisition is expected to strengthen Osaka Gas' procurement flexibility and diversify its long-term supply sources.