Japan's Oaska Gas said Friday it is buying into East Texas shale gas fields, acquiring a stake from Houston-based Sabine Oil & Gas.

Osaka, which already is a buyer of liquefied natural gas from Texas, will pay $146 million to acquire a 35 percent stake in Sabine's acreage that's mostly in Harrison and Panola counties. Much of that property is in the gassy Haynesville Shale.

Osaka is a part owner in Houston-based Freeport LNG, and Osaka is a major customer of the LNG the project will export from Quintana Island near Freeport once it comes online late this year or early 2019.


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