Inpex: Ichthys LNG Project 20 Percent Complete (Australia)

Ichthys liquefied natural gas project in Australia is 20 percent complete, Reuters reported, citing Antoine Serceau, managing director of Inpex’s Ichthys project as saying.

He also said that Japan’s Inpex is confident its cost estimates for the LNG project will remain at $34 billion.

The Ichthys oil and gas offshore field is estimated to contain 12.8 trillion cubic feet of gas and 527 million barrels of condensate, and have an operational life of more than 40 years.

Gas from the field will undergo preliminary processing at the offshore CPF to remove water and raw liquids, including a large proportion of the condensate.

The gas will be transported from the CPF through an 885 km pipeline to an onshore LNG processing plant near Darwin, Australia.

The Ichthys project will have an initial production capacity of 8.4 million metric tons of liquefied natural gas and 1.6 million metric tons of liquefied petroleum gas a year, as well as about 100,000 barrels of condensate a day at peak.

The $34 billion project is a joint venture between Inpex and Total E&P Australia. The production start target is by the end of 2016.

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LNG World News Staff, May 27, 2013; Image: INPEX