INPEX Corp. raises LNG production

INPEX Corp. has announced it has increased the expected production capacity of the Ichthys LNG Project to 8.9 million tpy, an increase of approximately 6% compared to the initial 8.4 million tpy. Initially, the product was expected to start towards the end of December 2016, but is now expected to begin in 3Q17. It is expected that these two updates will increase the project’s investment by approximately 10%.

This increase in production capacity is based on the company’s recent evaluation of the latest technological information pertaining to the entire LNG production system.

“The Ichthys LNG Project is a world-class project with an expected operational life of at least 40 years. All the LNG initially planned to be produced from the project has been sold. Of this, about 70% of the LNG is set to be supplied to Japan, and this is expected to further contribute to the long-term, stable supply of energy to the country and improve Japan’s energy procurement risk management,” said INPEX Corp. President & CEO, Toshiaki Kitamura. “The project is also expected to make a significant contribution to the social and economic development of Australia, one of the world’s foremost producers of energy.”

Edited from press release by Angharad Lock

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/11092015/inpex-corp-raises-lng-production-1272/