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Climate Change

Thai miner Banpu buys Texas gas fields in clean fuel shift

$750m deal with Exxon group boosts buyer's U.S. gas output by 30%

A gas field in Texas owned by Banpu. (Photo courtesy of the company) 

BANGKOK -- Coal miner Banpu is acquiring natural gas fields in the U.S. state of Texas from Exxon Mobil units for $750 million, accelerating the Thai company's transition to greener energy and divestment of its coal business.

The assets, with daily production capacity of 225 million cu. feet equivalent, will boost Banpu's gas production in the U.S. by roughly 30%. The deal announced Friday includes roughly 1,200 km of pipelines, which Banpu said will let the company supply gas straight to American markets.

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