Osaka Gas has signed an agreement to acquire a 5% stake in the LNG Browse project located on the western coast of Australia, aiming to expand its activities in the natural gas and LNG sector. This purchase was made from BP Developments Australia and gives the Japanese company access to natural gas and LNG resources in Australia.
Details of the Browse Project
The Browse project, managed by Woodside, is progressing towards the Front End Engineering Design (FEED) stages and includes the development of the Brecknock, Calliance, and Torosa gas fields. These fields are located on the western coast of Australia, and the Browse project is expected to achieve a production capacity of approximately 11 million tons of LNG per year (MMtpa). This production will be made possible using existing infrastructure in the Pilbara region of Australia.
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Osaka Gas's Expectations from This Acquisition
With its 5% stake in the project, Osaka Gas expects to receive nearly 550,000 tons of LNG annually, along with LPG and related domestic natural gas production. Masataka Fujiwara, President and CEO of Osaka Gas, considers this deal a significant step towards strengthening its strategic partnership with BP and Woodside, expressing hope for close collaboration with other partners in the Browse project.
Osaka Gas has invested in Australian natural gas projects for over 25 years and operates in this field through Osaka Gas Australia. The acquisition of the Browse project allows the company to expand its upstream portfolio in Australia and strengthen its long-term LNG supply position.
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