🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Japan's Inpex offers LNG cargoes from Australian Ichthys project -sources

Published 19/10/2018, 07:58 pm
Japan's Inpex offers LNG cargoes from Australian Ichthys project -sources
TTEF
-
CL
-
1605
-
9503
-
9531
-
9532
-
9533
-

SINGAPORE, Oct 19 (Reuters) - Japanese energy explorer Inpex Corp 1605.T has offered spot cargoes from its giant Ichthys project in northwestern Australia, in a sign that it may be ramping up production, two industry sources said on Friday.

The company, which is a majority shareholder and lead operator of the project, is looking to sell four cargoes from Ichthys over the second half of October through November, they added.

It was not immediately clear if the cargoes had been sold.

An Inpex spokesman in Tokyo said on Tuesday that production had been going smoothly and that shipments of LNG and liquefied petroleum gas were set to begin, but he declined to comment on commercial matters including the schedule for shipments.

Inpex was due to load its first LNG cargo from the long-delayed Ichthys project this week after earlier selling its first condensate cargoes, sources have said. LNG vessel Pacific Breeze was anchored at the Ichthys LNG terminal near Darwin as of Friday, according to Refinitiv Eikon data.

Ichthys has seen multiple delays and cost overruns of billions of dollars due to technical difficulties. It was originally slated to start in 2016.

At full operation, Ichthys is expected to produce 8.9 million tonnes of LNG a year, along with about 1.7 million tonnes of LPG and about 100,000 barrels per day of condensate, an ultra-light form of crude oil.

Inpex holds 62.245 percent of Ichthys and France's Total TOTF.PA has 30 percent, with the rest spread among Taiwan's CPC Corp MOEATA.UL and Japanese utilities Tokyo Gas 9531.T , Osaka Gas 9532.T , Kansai Electric 9503.T , JERA Corp and Toho Gas 9533.T .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.