Japan’s Osaka Gas, through its unit Osaka Gas Browse (OGB), has reached a sales and purchase agreement with BP Developments Australia to acquire a 5% interest in the Browse Project in Western Australia (WA).
OGB will be jointly funded by Osaka Gas Australia, a wholly owned subsidiary of Osaka Gas, and the Japan Organization for Metals and Energy Security (JOGMEC).
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Osaka Gas said that discussions are under way with JOGMEC regarding the application of a new scheme announced by the latter on 1 April 2026. The scheme aims to secure stable long-term supplies of liquefied natural gas (LNG) and other resources.
The Browse Project involves the planned development of the Brecknock, Calliance and Torosa gas fields offshore WA.
The project is operated by Woodside Energy on behalf of the Browse joint venture (JV).
The development is currently advancing towards the front-end engineering and design phase.
Carbon capture and storage technology is part of the project design, with the stated intention of lowering the carbon intensity of the LNG produced.
At full production, the Browse Project is expected to deliver around 11 million tonnes per annum (mtpa) of LNG, utilising the North West Shelf Project’s infrastructure in the Pilbara region.
Osaka Gas president and CEO Masataka Fujiwara said: “Osaka Gas values its long-standing relationship with bp, and this transaction marks an important step toward further strengthening our strategic partnership.
“We look forward to working closely with bp, Woodside and other Browse JV participants to advance the project.”
The transaction is subject to regulatory and JV partner approvals, as well as other standard conditions.
If completed, the acquisition will entitle OGB to approximately 550,000 tonnes of LNG per year, as well as associated liquefied petroleum gas and domestic gas from the project.
The WA Government has granted the Browse Project ‘Significant Project’ status, recognising its intended role in supporting state and national economies and regional energy security.
