INPEX Selects Singapore as Oil, Gas Trading Hub

INPEX has set up a wholly owned subsidiary INPEX Energy Trading Singapore Pte Ltd.

In anticipation of further increased volumes of such entitlement by developing the Ichthys LNG Project, Prelude Project and other projects, INPEX has decided to set up a new office in Singapore, one of the hubs for energy trading, to strengthen INPEX’s marketing activities in Asia where energy demand is expected to grow, to make shipping operation more efficient and to enhance the capability of information-gathering on energy market. 

Shipping operation means management and administration of shipping of the LNG to be produced from the INPEX operated Ichthys LNG Project, offshore Western Australia.

In June last year Inpex announced shipbuilding and shipping contracts for two new vessels which will offtake and deliver LNG from the Ichthys LNG Project offshore Western Australia to Japan and Taiwan. One LNG vessel will be jointly owned with Kawasaki Kisen Kaisha, Ltd. (‘”K” Line’) through Ocean Breeze LNG Transport S. A. and built by Mitsubishi Heavy Industries, Ltd. The vessel will be operated by Ocean Breeze LNG Transport S. A. as a time charter.

The 155,300 cubic metre capacity carrier will offtake 900,000 tonnes per annum of LNG from the Ichthys LNG Project and features an innovative peapod-shaped continuous cover protecting the four moss spherical tanks. The reduced weight combined with reheated steam turbine propulsion will contribute to an expected 20 per cent or more decrease in fuel consumption per unit cargo compared to conventional vessels.

A second, 182,000 cubic metre capacity vessel will also be operated as a time charter by “K” Line for delivery to CPC Corporation, Taiwan.

These arrangements will contribute to strengthening INPEX’s global gas supply chain which connects INPEX’s overseas gas assets with its Naoetsu LNG Receiving Terminal in Joetsu and its natural gas pipeline network in Japan.

January 17, 2014

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply