Inpex Transfers 1.2% Stake in Ichthys LNG Project to Kansai Electric

Japan’s Inpex Corporation on Wednesday announced it has agreed to transfer 1.2% of its equity interest in the Ichthys LNG Project, located in Western Australia, to Kansai Electric Power Co.

Equity interest in the Ichthys LNG Project 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, 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 and Toho Gas. 

Last year, Inpex agreed to transfer 2.625% of equity interest in the project to Taiwan’s CPC Corporation. The company said this transfer is now in process.

The Ichthys LNG Project 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. Detailed Engineering, Procurement and Construction (EPC) of the Ichthys LNG Project is ongoing and production is scheduled to commence by the end of 2016.