Osaka Gas to buy 5% stake in Australia’s Browse gas project from BP

• Browse is Australia's largest undeveloped gas resource, expected to produce 11 million metric tons of LNG annually once operational
• Osaka Gas will secure approximately 550,000 tons of LNG per year through its 5% stake in the project
• The Browse project, operated by Woodside Energy, is currently in pre-FEED stage and will supply the North West Shelf LNG facility in Western Australia

Osaka Gas Acquires 5% Stake in Australia's Browse Gas Project

Japanese utility Osaka Gas announced on September 18 that it has agreed to purchase a 5% stake in BP's Browse gas project located offshore Western Australia. The acquisition aims to strengthen the company's liquefied natural gas (LNG) supply portfolio.

Transaction Structure:

The stake will be acquired through Osaka Gas Browse, a joint venture between Osaka Gas Australia and the state-backed Japan Organization for Metals and Energy Security (JOGMEC). The deal remains subject to regulatory and joint venture partner approvals. Financial terms were not disclosed.

Project Details:

The Browse project encompasses the Brecknock, Calliance, and Torosa gas fields in the Browse Basin and is currently in the pre-front-end engineering and design (Pre-FEED) phase. Operated by Woodside Energy, Browse represents Australia's largest undeveloped gas resource and is designated as backfill supply for the North West Shelf LNG facility in Western Australia.

Production Expectations:

The project is projected to produce approximately 11 million metric tons of LNG annually once operational. Through its 5% stake, Osaka Gas expects to secure around 550,000 tons of LNG per year.

Market Implications:

This transaction reflects continued Japanese interest in securing long-term LNG supply amid global energy security concerns. The deal strengthens energy ties between Japan and Australia while allowing BP to reduce its stake in the undeveloped asset. For investors, this signals ongoing consolidation in the Australian LNG sector and Japan's strategic efforts to diversify its energy sources through equity partnerships in upstream gas projects.