Inpex Blocks Deal with MidOcean by Buying JERA Stake in Ichthys LNG

Japan's Inpex has exercised its pre-emptive rights to buy a 0.735% stake in the Ichthys LNG project from JERA, blocking a deal agreed with MidOcean Energy.

The Ichthys liquefied natural gas project began production in 2018 and produces 9.3 million metric tons of LNG annually.

Inpex said the acquisition aligns with its long-term strategy to expand upstream gas assets and boost energy security in Japan and the Asia-Pacific.

The terms of the deal were not disclosed, but Inpex's interest in the project will increase to 68.555% as a result of the purchase.