TideOpsOsaka Gas agrees to acquire a stake in the Browse project
BP has agreed to sell a further 5% of the Australian offshore gas project to an Asian LNG buyer.
BP has agreed to sell a 5% interest in the Browse project to Osaka Gas, according to a September 21 report. The deal follows another 5% agreement announced in June with South Korea’s GS Energy.
Browse is intended to develop the Brecknock, Calliance and Torosa fields off Western Australia to supply gas to the Karratha infrastructure. The operator’s proposed development includes a new pipeline of approximately 900 kilometres and two floating production, storage and offloading units.
Participation by Asian buyers brings the project’s ownership structure closer to its LNG market. The reported event is the acquisition agreement and should not be confused with the start of production from the new fields.