Inpex Bolsters Stake in Ichthys LNG Project off Western Australia

Inpex has strengthened its position in the Ichthys LNG project off Western Australia's northwest coast. The Japanese company's Australian subsidiaries have acquired a 0.735% participating interest in the project, increasing their stake from 67.82% to 68.555%. This increase is due to Inpex exercising pre-emptive rights under joint operating agreements and shareholders' agreements with JERA, which had decided to sell its shares to MidOcean Energy.

The Ichthys field covers an area of around 800 square kilometers in water depths averaging about 250 meters. The project involves the export of gas and condensate from the field's central processing facility through a pipeline that spans approximately 890 kilometers, terminating near Darwin for further processing. Inpex plans to add a third LNG train at the Ichthys LNG project, anchored by growing Beetaloo production.

According to Inpex, it will continue to lead efforts to maintain stable operations at the project with the understanding and cooperation of all its stakeholders, including joint venture participants, local communities, the Australian federal government, and state governments. The deal is subject to approval from Australian regulatory agencies.