Thai coal miner Banpu invests in Pennsylvania shale gas field

Bangkok

A RELENTLESS flow of natural gas from America's shale basins is drawing bears to the market - and that is music to the ears of at least one Asia-backed investor.

Kalnin Ventures LLC - an investment company with funding from Thailand's largest coal miner, Banpu Public Company Ltd - has spent about US$417 million over the past two years snapping up 55,000 net acres (2,2258 ha) in the Marcellus formation in northern Pennsylvania. The company's co-founder, Christopher Kalnin, was in Thailand earlier this month to drum up more money.