Inpex Inks Big Ichthys LNG Sales Deal (Australia)

December 6, 2011

Ichthys LNG Pty Ltd, a company jointly owned by INPEX and TOTAL and the seller of Ichthys LNG, today signed a legally binding Sales and Purchase Agreement (SPA) with a consortium of five major Japanese utility companies for LNG from the Ichthys Project totaling 4.0 mtpa.

Under the SPA, Ichthys LNG Pty Ltd will sell LNG for 15 years commencing in 2017 from the Ichthys Project to:

Tokyo Electric Power Company, Inc (1.05 mtpa)
Tokyo Gas Co.,Ltd. (1.05 mtpa)
The Kansai Electric Power Co., Inc. (0.80 mtpa)
Osaka Gas Co.,Ltd. (0.80 mtpa)
Kyushu Electric Power Company Inc. (0.30 mtpa)

This follows the announcement of 24 June 2011 of LNG sales agreements with Chubu Electric Power Company, Toho Gas Co., Ltd. and CPC Corporation, Taiwan, and also LNG offtake which has already been agreed by an INPEX and TOTAL affiliate.

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, December 6, 2011