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Ichthys LNG project reaches half way mark

LNG Industry,

Inpex Corporation announced that the Ichthys LNG project has celebrated its most signification construction milestone to date, after officially marking 50% completion.

The Ichthys LNG project includes an offshore project with subsea facilities and two large floating platforms (central processing facility and floating production storage and offloading facility); an onshore project including an 8.4 million tpa LNG plant; and an 889 km 42-in. gas transmission pipeline.

Inpex President – Australia, Seiya Ito, explained that millions of man-hours completed by thousands of people across the world had contributed to the project reaching its half way mark, which comes less than two and a half years after the final investment decision was made in January 2012.

Flagship project

Ito commented: “Achieving 50% means overall we have completed half of the project’s physical fabrication and construction work. For Inpex, this is a major step towards the successful start-up of our flagship Ichthys LNG project, which with an operational life of at least 40 years, is integral to realizing our medium to long-term vision for growth.”

Managing Director of the Ichthys LNG project, Louis Bon, added: “Building one of the world’s largest and most exciting resource development projects certainly has its challenges, but we have every confidence in our people and our contractors to deliver Ichthys as planned.

“I would like to personally thank our project teams and the many contractors and subcontractors involved up to now, and acknowledge the continuing support of our joint venture participants, governments and the communities in which we operate.

“With first production a little more than two years away, our Operations team is working hard to prepare for start-up and commissioning, and we remain absolutely focused on successfully delivering the second half of this world-class project.”

Economic opportunity

With a life span of at least 40 years, the Ichthys LNG project offers a considerable economic opportunity. Approximately AU$ 10 billion has been committed to be spent in Australia during the construction phase of the project. This includes over AU$ 5 billion in the Northern Territory and approximately AU$ 3.5 billion in Western Australia.

Adapted from press release by Katie Woodward

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