Australia: Tokyo Gas Gets Stake in Ichthys LNG

INPEX CORPORATION announced today that INPEX Ichthys Pty Ltd and other project group companies have reached an agreement with Tokyo Gas Co., Ltd. to transfer its 1.575% of the Ichthys LNG project equity interest.

Based on the agreement, the Ichthys LNG project equity interest will be as follows:

• INPEX             72.805%

• TOTAL            24.000%

• Tokyo Gas     1.575% (subject to the approval by the Australian government)

• Osaka Gas      1.200% (subject to the approval by the Australian government)

• Toho Gas       0.420% (subject to the approval by the Australian government)

The Ichthys LNG project equity interest includes the following elements:

1. Participating interest of WA-37-R (Ichthys gas-condensate field)

2. Participating interest of WA-285-P (exploration permit adjacent to WA-37-R)

3. Shares of Ichthys LNG Pty Ltd (natural gas liquefaction and LNG marketing company)

The Ichthys Project will have an initial capacity to produce 8.4 million tonnes of LNG per annum and approximately 1.6 million tonnes of liquefied petroleum gas (LPG) per annum, as well as 100,000 barrels of condensate per day at peak.

[mappress]

LNG World News Staff, January 12, 2012