IT wasn't just the goose that was getting fat at Christmas.
Dart Energy’s push to bulk up in European unconventional gas is a sign it remains on course to list its international business in Singapore early this year, rather than join the ranks of IPOs scuppered by weak equity markets.
Dart acquired 22 onshore gas licences in the UK from Greenpark Energy for $42 million on December 28, just days after buying out joint-venture partner BG Group from 14 coal seam gas licences in the UK.
At first blush, a bigger foothold in Europe may be an odd way to woo new Asian investors more familiar with the unconventional gas story unfolding in rapidly industrialising China and India.
According to the International Energy Agency, Western Europe’s gas demand will grow at a compound annual rate of 0.7 per cent from 2008 through 2035. That’s close to the slowest globally and compares with a 7.7 per cent compound annual growth rate in China, where Dart already has a presence through the Dajing and Liulin coal seam gas licences.
The Australian
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