Norton Rose Fulbright has advised Osaka Gas on acquiring a 5% interest in the Browse liquefied natural gas (LNG) project off the northwest coast of Western Australia.
The deal value was not disclosed, but Reuters reported that Osaka Gas is acquiring the stake from BP, the UK-based oil and gas company.
The investment will be made through Osaka Gas Browse, a company jointly owned by Osaka Gas Australia, an Osaka Gas subsidiary, and the state-backed Japan Organisation for Metals and Energy Security.
Norton Rose Fulbright advised Osaka Gas Australia on the full scope of the transaction, including the acquisition documents, investment structuring, and regulatory and environmental matters related to the project.
Partner Martin Irwin led the Norton Rose Fulbright team, with support from partners Troy McKelvie, Claire Forster, Marc Waha and Jacqueline Plant, special counsel Jennifer Meek, Julieane Materu, Zoe Lonard and Sonia Chee, as well as associates Suwen Fang, Malinthi Mallawa and Charlotte Batten.
The transaction marks a major step in the development of the Browse project, which includes the Brecknock, Calliance and Torosa offshore gas fields.
Osaka Gas said the project could produce about 11 million tonnes per year of LNG on plateau, using existing infrastructure from the North West Shelf Project in Western Australia’s Pilbara region. The North West Shelf Project has supplied natural gas to Australian and international customers for 40 years.
Established in 1897, Osaka Gas supplies gas to Japan’s Kansai region. It formed Osaka Gas Australia in 2000 and has been investing in Australian natural gas projects for more than 25 years.
AloJapan.com