INPEX Corporation has announced a Sales Purchase Agreement that will see an estimated 70 per cent of all LNG produced at the $20 billion Ichthys Project delivered to Japan.

 

Ichthys LNG Pty Ltd, a company jointly owned by INPEX and TOTAL and the seller of Ichthys LNG, signed the legally binding SPA with a consortium of major Japanese utility companies, totaling 4.0 mtpa.

 

Under the SPA, Ichthys LNG Pty Ltd will sell LNG for 15 years commencing in 2017 from the Ichthys Project to:

 

  • Tokyo Electric Power Company, Inc (1.05 mtpa)
  • Tokyo Gas Co.,Ltd. (1.05 mtpa)
  • The Kansai Electric Power Co., Inc. (0.80 mtpa)
  • Osaka Gas Co.,Ltd. (0.80 mtpa)
  • Kyushu Electric Power Company Inc. (0.30 mtpa)

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Northern Territory Chief Minister joined representatives at the signing ceremony SPA between Ichthys LNG Pty Ltd and the Japanese consortium.

 

“The announcement is a vote of confidence in the Territory’s future in the resource sector and an important step towards the start of the $20 billion Ichthys project,” Mr Henderson said.