Osaka Gas Secures Stake in Browse LNG Project Off Western Australia
Norton Rose Fulbright has advised Osaka Gas on its acquisition of a 5% stake in the Browse liquefied natural gas (LNG) project off the northwest coast of Western Australia. The deal value was not disclosed, but Reuters reported that Osaka Gas is purchasing the interest from BP.
The investment will be made through Osaka Gas Browse, a joint venture between Osaka Gas Australia and the state-backed Japan Organisation for Metals and Energy Security. Norton Rose Fulbright advised Osaka Gas Australia on all aspects of the transaction, including acquisition documents, investment structuring, and regulatory matters related to the project.
The Browse project includes three offshore gas fields: Brecknock, Calliance, and Torosa. The project is expected to produce approximately 11 million tonnes per year of LNG at its peak production level, using existing infrastructure from the North West Shelf Project in Western Australia's Pilbara region.