INPEX signs another LNG sales agreement
INPEX CORPORATION (INPEX and TOTAL today finalised the sale of the total volume of LNG from the Ichthys LNG Project with the signing of legally binding Sales and Purchase Agreements (SPA) with CPC Corporation, Taiwan (CPC), Chubu Electric Power Company, Inc. (Chubu Electric) and Toho Gas Co., Ltd. (Toho Gas).
Under the SPAs, Ichthys LNG Pty Ltd, a company jointly owned by INPEX and TOTAL and the seller of Ichthys LNG, will sell 2.52 million tonnes per annum (mtpa) of LNG for 15 years commencing in 2017 from the Ichthys LNG Project to:
- CPC = 1.75 mtpa
- Chubu Electric = 0.49 mtpa
- Toho Gas = 0.28 mtpa
This follows the announcement of 6 December 2011 of LNG sales and purchase agreements totaling 4.0 mtpa with a consortium of five major Japanese utility companies composed of Tokyo Electric Power Company, Inc, Tokyo Gas Co., Ltd., The Kansai Electric Power Co., Inc., Osaka Gas Co., Ltd. and Kyushu Electric Power Company Inc., and LNG offtake agreements for 1.8 mtpa were also agreed by INPEX and a TOTAL affiliate.
The Ichthys LNG Project Joint Venture is seeking the continued support from the Australian Government, the Western Australian Government, the Northern Territory Government and other stakeholders for early and optimal commercial gas production from the Ichthys LNG Project.