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INPEX sees minimal cost overruns on Ichthys project

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LNG Industry,

According to Reuters, a senior executive at INPEX Corp. has stated that the company sees minimal cost overruns on the Ichthys LNG project due to a start-up delay.

Masahiro Murayama, INPEX’s Senior Managing Executive Officer, reportedly told Reuters that the cost overrun could possible be up to a few percent (if any), and that there would not be any material impact to the Australian project.

Recently, the INPEX announced that the project start-up would be delayed by up to six months. Its original target was to start-up in 3Q17. Reuters reports that delays in the installation of offshore production facilities are the cause of the overall delay.

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