Tokyo Gas unit close to $4.6B deal for US natgas producer: report
Oil expert warns nat gas prices will soar this winter
Lipow Oil Associates President Andy Lipow argues releasing the Strategic Petroleum Reserve is the only ‘concrete action’ that the Biden administration has taken to lower prices at the pump.
A unit of Tokyo Gas Co. is in advanced talks to buy U.S. natural gas producer Rockcliff Energy for about $4.6 billion, according to people familiar with the matter.
Rockcliff is owned by private equity firm Quantum Energy Partners.
A deal is considered important for the import-dependent Asian nation after supply markets for the commodity were roiled by Russia's invasion of Ukraine.
The all-cash deal involves Houston-based TG Natural Resources, which is 70% owned by the Japanese energy firm.
IS A NATURAL GAS CRISIS COMING?