Inpex sheds further Ichthys stake

Japan’s Inpex is once again farming down a portion of its stake in the giant Ichthys liquefied natural gas project in Australia, but will remain as operator with a majority share.

The large player is letting go of a further 1.2% stake to Kansai Electric Power, following a similar deal in late June to sell 2.625% to CPC of Taiwan.

Once these deals are finalised, Inpex will be left with a 62.245% share, with French supermajor Total on 30%, Tokyo Gas on 1.575%, Osaka Gas on 1.2%, Chubu Electric Power on 0.735% and Toho Gas on 0.42%.

Output from Ichthys is currently scheduled to start up by the end of 2016 with expected peak production of 8.4 million tonnes per annum of LNG, 1.6 million tpa of liquid petroleum gas and up to 100,000 barrels per day of condensate.

The project is being fed by the Ichthys gas and condensate field which lies in the Browse basin, off the coast of Western Australia.

Gas from the field will be exported via an 889 kilometre subsea pipeline to the onshore processing facilities near Darwin in the Northern Territory while condensate from the field will be pumped to the floating production, storage and offloading unti and then transferred to tankers for delivery.

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