Reuters have the report:
- A unit of Tokyo Gas Co Ltd (9531.T) is in advanced talks to buy U.S. natural gas producer Rockcliff Energy from private equity firm Quantum Energy Partners for about $4.6 billion, including debt, people familiar with the matter said on Tuesday.
- If consummated, the deal would be the latest move by a Japanese entity to secure gas in jurisdictions perceived as friendly, the importance of which has risen for the import-dependent Asian nation in the wake of supply markets for the commodity being roiled by Russia's invasion of Ukraine.
- The all-cash deal with Houston-based TG Natural Resources, which is 70% owned by the Japanese energy firm, is set to be announced this month
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As well as being of interest to energy markets a USD4.6bn flow is of interest to yen traders. Note that by the time these deals hit the media the FX has often been hedged already.
USD/JPY buyers would have been enjoying the falling dollar:
