Osaka Gas Buys Stake in Australian Offshore Gas Project

Osaka Gas has strengthened its liquefied natural gas supply portfolio by agreeing to buy a five percent stake in the Browse gas project offshore Western Australia from BP. The acquisition will be made through Osaka Gas Browse, a company jointly owned by Osaka Gas Australia and state-backed Japan Organisation for Metals and Energy Security (JOGMEC).

The Browse project comprises the Brecknock, Calliance, and Torosa gas fields in the Browse Basin and is currently in the pre-front-end engineering and design stage. Operated by Woodside Energy, Browse is Australia's largest undeveloped gas resource that will supply backfill to the North West Shelf LNG facility.

Osaka Gas expects to secure about 550,000 tonnes per year of LNG through its stake in the project. The Browse project is expected to produce around 11 million tonnes of LNG annually.