FIRST CONDENSATE EXPORT FROM ICHTHYS VENTURER

October 02, 2018

Inpex announced that the Inpex-operated Ichthys LNG Project (the Project) recently commenced shipment of condensate (ultra-light crude oil) from the Floating Production, Storage and Offloading (FPSO) facility Ichthys Venturer. The first shipment of condensate is destined for the Asian market. Inpex is poised to continue responding to the energy demand in Japan, Asia and the rest of the world. Going forward, the Project will proceed with the production of liquefied natural gas (LNG), etc. at the onshore gas liquefaction plant in Darwin in the Northern Territory of Australia, and is scheduled to commence the shipment of LNG and liquefied petroleum gas (LPG) in sequence within the third quarter (October-December 2018) of the current fiscal year.
Inpex will continue to work toward the success of the Ichthys LNG Project with the understanding and cooperation of all its stakeholders, including the project’s joint venture partners, the local communities, the Australian federal government and the governments of Western Australia and the Northern Territory. The Project’s expected revenue contribution remains unchanged from the outlook announced in the company’s forecasted consolidated financial results for the year ending March 2019 announced on August 9, 2018. In terms of dividend forecasts, as announced at the beginning of the current fiscal year, Inpex plans to issue a commemorative dividend following the Ichthys LNG Project’s start-up and shipment of cargo.

The Ichthys gas field is a natural gas field located in the Timor Sea, off the northwestern coast of Australia. The field is located 220km offshore Western Australia and 820km southwest of Darwin, with an average water depth of approximately 250 metres. It was discovered in 2000 and developed by Inpex in partnership with Total, Tokyo Gas, Osaka Gas, Chubu Electric Power, Toho Gas, Kansai Electric Power and CPC. (Source: Inpex – Image: Ichthys Venturer/DCN)

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