Inpex transfers Ichthys LNG interest to Kansai Electric

Inpex of Japan said it has agreed to transfer 1.2% of its equity interest in the Ichthys LNG project in Australia to Kansai Electric Power.

Equity interest in the Ichthys LNG Project includes:

• Participating interest in production licenses WA-50-L (Ichthys gas-condensate field) and WA-51-L;
• Participating interest in exploration permit WA-285-P (adjacent to WA-50-L);
• Shares of Ichthys LNG Pty Ltd, which owns gas pipelines and downstream liquefaction facilities, and undertakes natural gas liquefaction and marketing activities.

Equity interest owners in the Ichthys LNG project, in addition to Inpex, include Total, Tokyo Gas, Osaka Gas, Chubu Electric Power and Toho Gas. Inpex has also last year agreed to transfer 2.625% of equity interest in the project to CPC Corporation of Taiwan. This transfer is now in the process.

The Ichthys LNG project, which is currently being built,  is expected to produce 8.4 million tonnes of LNG and 1.6 million tonnes of LPG per annum, along with approximately 100,000 barrels of condensate per day at peak.

LNG World News Staff, August 20, 2014; Image: Inpex