Japanese firm Toyota Tsusho has expanded its energy investments in Australia with the acquisition of a 15% share in a coalbed methane (CBM) block operated by UK gas giant BG. The stake in permit ATP651 in Queensland's Surat Basin was acquired for A$98.5 million (US$87.2 million) from Australian firm AJ Lucas. BG is developing a 7.4 million ton/yr CBM-fed LNG export project on Curtis Island. A Toyota spokesman said the firm is only involved in the upstream as a partner in the joint venture for the block, and is not in talks to buy LNG from or participate in the LNG project.
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