INPEX Ichthys Pty Ltd and other project group companies have today reached an agreement with Tokyo Gas to transfer its 1.575% of the Ichthys LNG project equity interest.
The Ichthys LNG project equity interest includes the following elements: Participating interest of WA-37-R (Ichthys gas-condensate field); Participating interest of WA-285-P (exploration permit adjacent to WA-37-R) ;Shares of Ichthys LNG Pty Ltd (natural gas liquefaction and LNG marketing company).
Tokyo Gas now joins the group of Ichthys’ equitiy interest holders consisting of: INPEX 72.805% , TOTAL 24.000%, Osaka Gas 1.200% , Toho Gas 0.420%.
According to a local news website ntnews.com.au everything is ready for Ichthys final investment decision. The website reports that INPEX’s and Total’s top executives are on their way to Darwin to prepare for tomorrow’s FID announcement.
INPEX’s president Naoki Kuroda is already in Australia and Japan’s Senior Vice Minister of Economy, Trade and Industry is expected to arrive to Darwin today, reads ntews.com.au.
The Ichthys LNG Project is a Joint Venture between INPEX group of companies (the Operator) and Total group of companies.
INPEX intends to install a floating central processing facility (CPF) to develop the Ichthys Offshore Field. The greater part of the condensate will be transferred from the field via a subsurface pipeline to a nearby floating production; storage and offtake (FPSO) facility where it will be treated and transferred to offtake tankers for export. Natural gas from the field will be directed through an approximately 850km long gas export pipeline from the field to the onshore facilities in Darwin for processing into LNG and liquefied petroleum gas (LPG).
The resource estimates for the Ichthys Field are 12.8 trillion cubic feet of natural gas and 527 million barrels of condensate. The Project is expected to produce more than 8 million tonnes of LNG and 1.6 million tonnes of LPG per year. It will also produce 100 000 barrels of condensate per day at peak.
Offshore Energy Today Staff, January 12, 2012; Image: INPEX