Transfer of the Ichthys LNG Project equity interest (6%) to TOTAL
INPEX CORPORATION (INPEX is pleased to announce today that INPEX and TOTAL S.A. (TOTAL) have reached agreement for INPEX Ichthys Pty Ltd and other project group companies to transfer a 6% of the Ichthys LNG Project equity interest(*) to TOTAL group companies.
(*) 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)
INPEX and TOTAL have enjoyed a good long-term partnership through collaboration on a number of oil and natural gas projects globally, including the Offshore Mahakam Block in Indonesia, which is one of INPEX’s core assets. TOTAL joined the Ichthys LNG Project in 2006 with a 24% participating interest. Since then, TOTAL has made a large contribution by bringing its expertise and experience in designing and executing large offshore developments and LNG projects. TOTAL’s increased level of participation reinforces its commitment to the Ichthys LNG Project while the partnership of the two companies will be further expanded. After the completion of the transfer of the 6% of the Ichthys LNG Project equity interest to Total, the joint venture partners for the Ichthys LNG Project will be as follows:
- INPEX = 66.070%
- TOTAL = 30.000%
- Tokyo Gas = 1.575%
- Osaka Gas = 1.200%
- Chubu Electric = 0.735% (subject to approval of the Australian government)
- Toho Gas = 0.420%
The Ichthys LNG Project Joint Venture participants appreciate the continued support from the local communities, the governments of Australia, Western Australia and Northern Territory, as well as support from other stakeholders for timely delivery of the Ichthys LNG Project.