Taiwan’s CPC Buys Into Ichthys Project (Australia)
Japan’s oil and gas company INPEX has reached agreement to transfer a 2.625% of the Ichthys LNG Project equity interest to CPC Corporation, Taiwan (CPC).
The Ichthys LNG Project equity interest includes the following elements: 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 (a downstream company which owns LNG facilities, liquefies natural gas and does marketing LNG and liquids)
After the completion of the transfer of the 2.625% of the Ichthys LNG Project equity interest to CPC, the joint venture partners for the Ichthys LNG Project will be as follows: INPEX 63.445%; TOTAL 30.000%; CPC 2.625% ; Tokyo Gas 1.575%; Osaka Gas 1.200%; Chubu Electric 0.735%; Toho Gas 0.420%
The Ichthys LNG project is located approximately 200km off the coast of Western Australia. The gas from the Ichthys field in the Browse basin will be processed offshore prior to being exported to the onshore processing facilities in Darwin via an 889km subsea pipeline.
The project is expected to produce around 8.4 million tonnes of LNG and 1.6 million tonnes of LPG per year, along with an estimated 100,000 barrels of condensate per day at peak.