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Energy

Thai coal major Banpu buys US shale gas assets for $770m

Investor pressure drives shift away from carbon-heavy fuel

Cows graze in an oil production field in Midland, Texas. Banpu's shale acquisition in the U.S. state will more than triple its output of natural gas.   © Reuters
YOHEI MURAMATSU, Nikkei staff writer | Thailand

BANGKOK -- Thai coal company Banpu will purchase shale assets in the U.S. state of Texas for $770 million under a deal announced Wednesday, more than tripling its natural gas output amid growing investor pressure for cleaner fuels.

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