Osaka Gas Acquires Interest in Browse Project Off Western Australia

Osaka Gas Co., Ltd. has entered into a sales and purchase agreement to acquire a 5% interest in the Browse Project, an offshore gas project in Western Australia. The acquisition is subject to regulatory approvals from relevant authorities and joint venture partners.

The Browse Project comprises three gas fields, Brecknock, Calliance, and Torosa, with the aim of producing lower carbon intensity LNG through carbon capture and storage (CCS) technology. The project has the potential to produce approximately 11 million tonnes per year (Mtpa) of LNG on plateau.

As a 5% interest holder, Osaka Gas' group company OGB is expected to acquire approximately 550,000 tonnes per year of the LNG, further strengthening its LNG procurement capabilities. The acquisition is in line with Osaka Gas' long-term strategy to secure stable supplies of energy resources.