Australia: Toho Gas Gets Stake in Ichthys LNG

Inpex announced today that Inpex Ichthys Pty Ltd and other project group companies have reached an agreement with Toho Gas Co., Ltd. to transfer its 0.42% of the Ichthys LNG project equity interest.

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

• INPEX           74.380%

• TOTAL          24.000%

• 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).

[mappress]

LNG World News Staff, January 10, 2011