INPEX Boosts Stake in Ichthys LNG Project to 69%

Japan's INPEX has strengthened its grip on Australia's Ichthys LNG project by acquiring an additional 0.735% stake in the venture.

The company, which already owned 67.82% of Ichthys, exercised its pre-emptive rights to buy out JERA's interest in the project, increasing its total stake to 68.555%. The transaction covers both JERA's shares in offshore blocks WA-50-L and WA-51-L, as well as its stake in Ichthys LNG Pty Ltd.

Ichthys is one of Australia's largest liquefied natural gas developments, with a production capacity of around 9.3 million metric tons per year. The project is particularly important to Japan's LNG supply chain, with sales contracts covering about 8.4 million tons of annual LNG production, roughly 70% of which is destined for Japanese buyers.

INPEX says the acquisition aligns with its Vision 2035 strategy and objective of supporting energy security across Japan and the wider Asia-Pacific region. The company expects the transaction to have a minimal effect on its consolidated financial results.