Osaka Gas (OSGSF.PK), Japan's second biggest supplier of city gas, will pay $249M for a 35%...

|About: Osaka Gas Co. (OSGSF)|By:, SA News Editor

Osaka Gas (OSGSF.PK), Japan's second biggest supplier of city gas, will pay $249M for a 35% stake in a Texas shale project run by Cabot Oil & Gas (COG +1%), estimated to be worth 250K metric tons/year of liquefied natural gas equivalent when output stabilizes. Drilling is set to start in July and the project, aimed at the U.S. market, is expected to run ~30 years.