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INPEX To Delay Investment Decision On Its Ichthys LNG Project To Late 2010

Published: 05-Nov-2009

INPEX Corporation (INPEX) will postpone its final investment decision on the Ichthys liquefied natural gas (LNG) project in northwest Australia from the first half of 2010 until late in the year, Reuters reported. INPEX has a 76% interest in the project, and Total S.A holds the rest. Design work for the offshore facilities including pipelines and floating production and storage tanks started in April 2009 and will take about 18 months, longer than the 12 months initially expected.

INPEX reiterated its plans to start commercial operation in 2015.

Ichthys will be constructed in the city of Darwin in northwest Australia.

LNG production from the project is estimated to top eight million tonnes per year, equal to more than a tenth of Japan's imports, in addition to 1.6 million tonnes per year of liquefied petroleum gas and around 100,000 barrels a day of condensate at highest production.

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