LNG

Dec 3 (LNGJ) - Osaka Gas, the Japanese utility and LNG buyer, has completed the purchase of a US upstream oil and gas firm, Sabine Oil and Gas Corp. from its parent company Sabine Holdings. As part of the sale, Osaka Gas said its US subsidiary would retain the current Sabine executive team and employees.

   Osaka Gas President Takehiro Honjo said he welcomed the acquisition of US expertise in shale development. “While Osaka Gas has participated in the Freeport LNG liquefaction project and independent power projects in the United States, we intend to expand our US upstream business by enhancing our capabilities with Sabine Corp's excellent operatorship,” stated Honcho.

Mitsui Osk Lines, the Japanese shipping company with an operating fleet of almost 100 LNG carriers, posted a first-half profit and higher revenues from its energy transportation business as its other shipping divisions struggled.