Osaka Gas grabs Sabine in North American upstream footprint expansion

摘要

Japanese utility Osaka Gas’ deal to acquire all of the outstanding shares of Sabine Oil & Gas, a Houston-based shale developer, could help it hedge its long-term feedgas requirements at the Freeport LNG export terminal in Texas that is preparing to start up. The move, announced Monday in a statement, follows Osaka Gas’ acquisition of a 35% stake in acreage in the eastern half of the asset area being developed by Sabine, and is part of the utility’s plan to expand its energy business portfolio in North America. Buying up the rest of the company marks the first time a Japanese firm has purchased a US-based shale gas developer.