13 January 2012
INPEX AND TOTAL MAKE FINAL INVESTMENT DECISION ON ICHTHYS LNG PROJECT, AUSTRALIA
INPEX CORPORATION (INPEX) and TOTAL S.A. (Total) today
confirmed the Final Investment
Decision (FID) on the US$34 billion Ichthys LNG Project.
INPEX Chairman Naoki Kuroda made the announcement in Darwin,
the site of the onshore gas processing facilities which will
be built to produce 8.4 million tonnes of liquefied natural
gas (LNG) per annum.
"The Ichthys FID announced today by INPEX and Total signals
the start of construction of one of the world's largest LNG
facilities based on an estimated 40 years of gas and
condensate reserves from the Browse Basin offshore Western
Australia," Mr Kuroda said.
"In delivering this important Project into production we will
be securing vital long-term energy supply to Japan and our
other customers while delivering sustainable economic and
social benefits across Australia."
Mr Kuroda said the Ichthys LNG Project was the cornerstone in
the company's growth strategy into the 21st
Century and would be the first time INPEX was leading such a
world-scale project as operator.
"Ichthys production volumes represent more than 10% of
Japan's LNG imports at current levels," Mr Kuroda said.
"Ichthys will provide a long-term stable supply of cleaner
energy to Japan, and help Japan diversify its energy
sources.
"Ichthys will contribute significantly to the growth of the
Australian economy while strengthening friendly ties between
Japan and Australia."
Mr Kuroda said the Ichthys LNG Project's commercial strength
would help INPEX achieve its objective of doubling oil and
gas production over the next decade.
INPEX and Total recently announced binding Sales and Purchase
Agreements for the entire
LNG production from the Project for 15 years from 2017.
In addition, the Project will produce an estimated 1.6 mtpa
of liquefied petroleum gases. The liquids-rich gas stream
will also generate approximately 100,000 barrels of
condensate per day at peak.
Mr Kuroda said mobilisation for construction of the Project
would start immediately with preliminary works at the Blaydin
Point site due to commence within weeks.
Mr Kuroda confirmed that Engineering, Procurement and
Construction (EPC) of the onshore LNG plant and associated
infrastructure would be undertaken by the JKC joint venture,
comprising JGC Corporation, KBR and Chiyoda Corporation. JGC,
KBR and Chiyoda are leading global LNG companies, with JGC
and Chiyoda headquartered in Japan and KBR headquartered in
the United States.
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Mr Kuroda said that between them, the three onshore EPC joint
venturers had been responsible for designing and delivering a
large percentage of the world's major oil and gas processing
plants, including large-scale LNG facilities across the
globe.
Mr Kuroda also confirmed contracts to be awarded for the
major offshore work packages, including:
• Central processing facility - Samsung Heavy Industry
• Subsea production system - General Electric
• Subsea flow line construction and installation - McDermott in cooperation with Heerema
• Gas export pipeline - Mitsui-Europipe, Sumitomo, Nippon Steel-Metal One (pipe manufacture); Mitsui-Bredero Shaw (pipe concrete coating); Saipem (pipelay)
• Floating production storage and offloading vessel - to be announced in the coming weeks.
Mr Kuroda said all successful tenderers to the Ichthys LNG
Project in Australia had to demonstrate how they will
maximise the use of Australian products and services.
"Ongoing compliance and reporting mechanisms will ensure
contractors perform to the standards set by the Ichthys
Project's approved Australian Industry Participation plans
and contractual obligations," Mr Kuroda said.
"Ichthys will truly be an international collaboration. An
estimated 3000 jobs will be needed in Darwin during the peak
of construction with a further 1000 offshore. Once the
Project is in operation we will require approximately 700
permanent positions."
INPEX and Total have already committed to a $91 million
environmental and social benefits package to provide
long-term benefits for the community over the life of the
Project and beyond, which includes a $3 million contribution
to Charles Darwin University to accelerate plans for the
North Australian Centre for Oil and Gas.
In 2010 INPEX and Total also contributed $3 million to fund
construction of the Larrakia Trade Training Centre, the
biggest cross-training facility under one roof in the
Northern Territory. It is delivering accredited
qualifications, traineeships and apprenticeships to
Aboriginal and non- Aboriginal students from across Northern
Australia.
"INPEX is committed to contributing to the sustainable
development of the communities in which we operate, improving
social and economic well-being while minimising impact on the
environment," Mr Kuroda said.
Mr Kuroda thanked the Australian, Northern Territory and
Western Australian governments for their considerable support
in helping bring Ichthys to FID.
"INPEX is committed to continuing a close cooperative
approach with government, the community and our other key
stakeholders in our areas of operations to delivery the
Ichthys vision on time and safely.
Key environmental and production approvals have been received
from the relevant authorities in Australia. The FID for
Ichthys is based on two LNG trains at Blaydin Point, however
the government has set aside enough land for the possible
future expansion of the Project of up to four additional
trains.
Media Contact: INPEX Tokyo Office, Public Relations Group,
Tel) +81-3-5572-0233
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INPEX CORPORATION is a worldwide oil and gas exploration and production company currently involved in more than 70 projects across 26 countries. INPEX is ranked in the top 100 global energy companies and is listed on the Tokyo Stock Exchange. Part of the Australian business community since
1986, we are active in a number of projects in Australia and the Timor Sea, including the large-scale Ichthys LNG Project, Van Gogh, Ravensworth and Kitan oil projects, as well as the Bayu-Undan condensate development and associated Darwin LNG.
About the Ichthys LNG ProjectThe Ichthys LNG Project is a joint venture between INPEX group of companies (the Operator) and Total group of companies. Gas from the Ichthys Field, in the Browse Basin offshore Western Australia, will undergo preliminary processing offshore to remove water and raw liquids, including condensate. The gas will then be exported to the onshore processing facilities in Darwin via an 889km pipeline. The Ichthys LNG Project is expected to produce 8.4 million tonnes of LNG and 1.6 million tonnes of LPG per annum, along with approximately 100,000 barrels of condensate per day at peak.
Ichthys Project Summary | |
Joint venture participants | • INPEX - 72.805% • Total - 24% • Tokyo Gas Co., Ltd. - 1.575% (subject to approval by the Australian government) • Osaka Gas Co., Ltd. - 1.2% (subject to approval by the Australian government) • Toho Gas Co., Ltd. - 0.42% (subject to approval by the Australian government) |
LNG gas buyers | • Tokyo Electric Power Company, Inc • Tokyo Gas Co., Ltd. • The Kansai Electric Power Co., Inc. • Osaka Gas Co., Ltd. • Kyushu Electric Power Company Inc. • Chubu Electric Power Company, Inc. • Toho Gas Co., Ltd. • CPC Corporation, Taiwan • INPEX CORPORATION • Total Gas & Power Limited |
CAPEX | • US$34 billion |
FID date | • 13 January 2012 |
Production start target | • By the end of 2016 |
Production rate | • 8.4 million tonnes of LNG per annum • 1.6 million tonnes of LPG per annum • Approximately 100,000 barrels of condensate per day at peak |
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Key facilities | • Central Processing Facility (CPF) • Floating Production Storage Offloading (FPSO) vessel • 889 km Gas Export Pipeline (GEP) • Two train LNG plant on Blaydin Point, Darwin, Northern Territory |
Key EPC contractors | • Onshore LNG facility - JKC Joint Venture (JGC Corporation, KBR, Chiyoda Corporation) • Central processing facility - Samsung Heavy Industry • Floating production storage and offloading vessel - to be confirmed • Subsea production system - General Electric • Subsea flow line construction and installation - McDermott in cooperation with Heerema • Gas export pipeline (manufacture) - Mitsui-Europipe, Sumitomo, Nippon Steel-Metal One • Gas export pipeline (concrete coating) - Mitsui-Bredero Shaw • Gas export pipeline (pipelay) - Saipem |
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INPEX AND TOTAL MAKE FINAL INVESTMENT DECISION ON ICHTHYS LNG PROJECT, AUSTRALIA (PDF 51KB) |