Osaka Gas completed the acquisition of Sabine Oil & Gas for $610m.

Osaka Gas, a Japanese gas company based in Osaka, completed the acquisition of Sabine Oil & Gas, a Texas-based shale gas developer, for $610m. Through the purchase, Osaka Gas aims to enhance shale gas development operation, one of its three core US businesses which also include the Freeport liquefied natural gas liquefaction and independent power producer projects. Under its long-term business strategy, Osaka Gas plans to boost its earnings from overseas to account for one-third of its total recurring profit in the business year to March 2031, up from 9% in the year ended March this year.