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Icthys LNG receives green light

LNG Industry,


The Australian Government has granted environmental approval to the Ichthys Project paving the way for a final investment decision in the fourth quarter of 2011.

INPEX President Director Australia Seiya Ito said Federal environmental approval represents a significant milestone for the project following a rigorous three year assessment process, comprehensive environmental studies and extensive engagement with the community and other stakeholders.

“We are committed to developing and operating the Ichthys Project in an environmentally and socially responsible manner and will continue to work closely with the government and community as we progress the project,” Mr Ito said.

The decision today by the Minister for Sustainability, Environment, Water, Population and Communities, the Hon. Tony Burke, follows the Northern Territory Government’s announcement in May that the environmental impacts of the planned Ichthys development in Darwin can be managed within acceptable limits.

The proposed Ichthys Project includes a subsea production system, semi-submersible central processing facility, a floating production, storage and offtake vessel located at the Ichthys Field in the Browse Basin, approximately 200 km off the northwest coast of Western Australia, and onshore gas processing facilities at Blaydin Point, Darwin, Northern Territory. An 885 km subsea gas pipeline will link the offshore and onshore facilities.

INPEX is also close to completing completing the sales of the entire 8.4 million tpa output of LNG from the Ichthys Project.

The Ichthys Project JV has reached an agreement with Chubu Electric Power Co., Inc. on LNG sales of 0.49 million tpa, with Toho Gas Co. Ltd. on LNG sales of 0.28 million tpa and with CPC Corporation, Taiwan on LNG sales of 1.75 million tpa, from the Ichthys Project over 15 years commencing in 2017.

INPEX and a TOTAL affiliate will also take a total of 1.8 million tpa of LNG from the Ichthys Project. LNG marketing negotiations are also close to being finalised with five major Japanese utility companies for the remainder of the plants output.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/29062011/icthys_lng_receives_environmnetal_approval/


 

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