Inpex confirmed yesterday that it had received approval from the WA Department of Mines and Petroleum to push ahead with development of the $30 billion Ichthys project off WA's north, paving the way for Japan's first LNG development to proceed early next year.
Confirmation that production licences had been offered coincided with Inpex announcing the final round of gas offtake agreements, under which five Japanese utilities will buy a combined four million tonnes of LNG a year from 2017.
Osaka Gas, one of the utilities, has also acquired 1.2 per cent of Ichthys as part of its LNG offtake deal. It leaves Inpex with 74.8 per cent of Ichthys and French partner Total with 24 per cent.
Total, which has taken over much of the engineering and design work for Ichthys, has stated that it wants to increase its equity in Inpex.
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The West Australian
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