Ichthys LNG Project
| Contract area (block) | Project status | Production capacity | Venture company (established) | Interest owned (*Operator) | Contract type |
|---|---|---|---|---|---|
| WA-50-L/WA-51-L | In production |
|
INPEX Ichthys Pty. Ltd. (Apr. 5, 2011) |
|
Concession Agreement (until the end of production) |
Project History
| 1998 | Acquisition of exploration block permit |
|---|---|
| 2000 | Confirmation of gas through exploratory drilling |
| 2008 | Determination of LNG plant location (Darwin) |
| 2012 | Final investment decision |
| 2018 | Production start-up |
Continuing Stable Production
Production commenced in July 2018 and shipments of condensate, liquefied natural gas (LNG) and liquefied petroleum gas (LPG) commenced shortly thereafter. Stable production has continued since production commenced in 2018.
LNG sales and purchase agreements (SPAs) cover 8.4 million tons of LNG produced annually from the project, and 70 percent of the LNG is destined for Japanese buyers. The volume of LNG produced annually is equivalent to over 10 percent of Japan's total annual LNG import volume. Ichthys LNG has already built a framework capable of producing 9.3 million tons of LNG annually and will continue to strive to maintain and enhance a safe and stable production system to ensure a stable supply of energy.
Aiming to expand in scale and supply clean energy
INPEX holds interests in multiple blocks in the vicinity of the Ichthys Field and has discovered gas in several of these blocks. We will accelerate our exploration activities in this area as well as the development of discovered assets to ensure a sustained production volume for the long term. We are aiming to reduce CO2 emissions through the introduction of CCS to decarbonize the project by 2030.
Nearby exploration blocks
| Contract area (block) | Project status | Venture company (established) | Interest owned (*Operator) |
|---|---|---|---|
| WA-84-R/WA-85-R/WA-86-R | Under exploration (blocks under appraisal on the discovery of gas and condensate) |
INPEX Browse E&P Pty. Ltd. (Oct. 21, 2013) |
|
| WA-80-R | Under exploration (blocks under appraisal on the discovery of gas and condensate) |
INPEX Browse E&P Pty. Ltd. (Oct. 21, 2013) |
|
| WA-74-R/WA-79-R/WA-81-R | Under exploration (blocks under appraisal on the discovery of gas and condensate) |
INPEX Browse E&P Pty. Ltd. (Oct. 21, 2013) |
|
| AC/P66 | Under exploration | INPEX Browse E&P Pty. Ltd. (Oct. 21, 2013) |
|
| AC/P71 | Under exploration | INPEX Browse E&P Pty. Ltd. (Oct. 21, 2013) |
|
| AC/RL7 | Under exploration | INPEX Cash Maple Pty. Ltd. (Aug. 4, 2023) |
|
| EP(A)318 | Under exploration | INPEX Oil & Gas Australia Pty. Ltd. (Feb. 28, 2012) |
|
| G-7-AP (GHG storage assessment permit) |
Under evaluation | INPEX Browse E&P Pty. Ltd. (Oct. 21, 2013) |
|
Exploration activities in the vicinity
3D seismic data acquisition in Block AC/P66 was conducted in the first half of 2024. Our aim is to discover promising petroleum and gas structures through these exploration activities.
Participation in and development of discovered assets in the vicinity of the Ichthys Field
In the blocks that we hold in the vicinity of the Ichthys Field, multiple gas structures have been discovered including Crown, Lasseter and Burnside. We also acquired an interest in Block AC/RL7 (Cash Maple) in 2023. Natural gas condensate fields have already been discovered at this block, raising expectations that this will contribute to the long-term stable output of the Ichthys LNG Project going forward.
Train expansion
We are considering the expansion of the liquefaction train system at the LNG plant aiming to start operations around 2030, subject to the confirmation of sufficient reserves and the satisfaction of other prerequisites.
CCS introduction
In 2022, INPEX acquired a 53 percent interest in the G-7-AP (Bonaparte) GHG assessment block off the northwestern coast of the Northern Territory of Australia. We aim to inject CO2 from the Ichthys LNG Project from 2030, and appraisal work is currently underway. Given this acreage is expected to have a high CO2 storage capacity, we are also considering accepting CO2 from sources other than Ichthys LNG. We are committed to contributing to the realization of a low emissions CCUS Hub* led by the Northern Territory government, among other initiatives.
Map: The Ichthys LNG Project and nearby exploration blocks
