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Japan’s Osaka Gas Seeks Another U.S. Shale Asset

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April 15, 2014

Osaka Gas Co. Ltd. (TYO: 9532), Japan’s second-biggest city-gas distributor, is seeking another U.S. gas asset even after losing money on a similar investment.

The Osaka-based utility plans to spend between 20 billion yen ($196 million) and 30 billion yen to acquire a minority stake in a U.S. shale gas project by the end of March 2017, Motoyuki Hirabayashi, the company’s general manager, said in an interview April 15. The utility is in talks with several companies offering stakes, Hirabayashi said without elaborating.

Japan, the world’s biggest buyer of LNG, ...

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