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INPEX-Operated Ichthys LNG Project Commences Condensate Shipment

Source: www.gulfoilandgas.com 10/1/2018, Location: Not categorized

INPEX CORPORATION (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.

Shipping of condensate from the Floating Production, Storage and Offloading (FPSO) facility “Ichthys Venturer” and the Central Processing Facility “Ichthys Explorer” in the background (far right) 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 of ¥6 per share following the Ichthys LNG Project’s start-up and shipment of cargo.

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