- Tokyo Gas Co. Ltd. TKGSY TKGSF The entity is reportedly in advanced talks to buy Rockcliff Energy From Quantum Energy Partners For about $4.6 billion.
- Unit, TG Natural ResourcesThe company, which is 70% owned by Tokyo Gas, is expected to announce the deal sometime this month, sources told Reuters. Castleton Commodities International (CCI) owns the rest of TG Natural Resources.
- reuters writing That TG Natural Resources is arranging the funding. The sources also said that no deal is guaranteed.
- Rockcliff produces over 1 billion cubic feet of natural gas per day from the Haynesville Shale Formation.
- The purchase of Rockcliffe will significantly increase TG Natural Resources’ operations, with the company producing approximately 330 net million cubic feet per day by June 2022 from the Haynesville Formation.
- Japan is working to diversify away from Russia’s Sakhalin project, which accounts for 9% of Japan’s total LNG imports of 74.3 million tonnes annually.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.