INPEX Corporation announced that it has agreed to transfer 1.2% of its equity interest in the Ichthys LNG project to Kansai Electric Power Company.
The agreed transfer is required to meet all conditions precedent, including approval by the Australian government.
Equity interest in the Ichthys LNG project includes:
- Participating interest in production licenses WA-50-L (Ichthys gas-condensate field) and WA-51-L.
- Participating interest in exploration permit WA-285-P.
- Shares of Ichthys LNG Pty Ltd., which owns gas pipelines and downstream liquefaction facilities, and carries out natural gas liquefaction and marketing activities.
Equity interest owners in the Ichthys LNG project, in addition to INPEX, include Total, Tokyo Gas, Osaka Gas, Chubu Electric Power and Toho Gas.
INPEX also agreed in July 2013 to transfer 2.625% of equity interest in the project to CPC Corporation, Taiwan, the transfer of which is now in process.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/20082014/inpex-transfers-percentage-of-ichthys-lng-equity-interest-1249/