Osaka has eye on CSM

JAPAN's Osaka Gas is planning to invest in unconventional petroleum projects such as coal seam methane due to a lack of opportunities to invest in more traditional projects.

Osaka Gas Australia managing director Shinichi Tada said that while CSM LNG technology was still untested, Osaka Gas would be comfortable with buying liquefied natural gas from these projects, which are located in Gladstone, Queensland.

"We are interested in every LNG project but it's getting a lot harder to find those that still need partners," he said.

"So we have decided to find new ways or markets to invest in."

Tada also said Osaka is in talks with Chevron to take a small stake in its proposed Gorgon LNG project off Western Australia.

He added that Osaka Gas is also keeping an eye on opportunities in the Browse Basin and in Papua New Guinea.

Osaka has been a major customer of the North West Shelf Venture since 1989 and had recently signed a deal to increase the total LNG it buys from the venture to 1.5 million tonnes of LNG per annum from April 2009.

The company also holds stakes in several upstream projects including a 15% interest in Nexus Energy's Crux liquids project as well as a 10% stake in both the Sunrise and Evans Shoal fields.

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