Osaka Gas becomes first Japanese firm to purchase a US shale gas developer

摘要

Osaka Gas is continuing its overseas investment drive after agreeing to purchase US shale gas player Sabine Oil & Gas for USD 610 million, with the deal marking the first time a Japanese firm has purchased a US shale gas developer, according to Osaka Gas. The agreement comes a year after Osaka purchased a 35% stake in Sabine Oil & Gas’ assets in Texas for USD 146 million, with the Japanese firm now set to become operator of the all of Sabine’s assets – located in close proximity to the Freeport LNG plant, where Osaka Gas has signed a liquefaction tolling agreement.