INPEX CORPORATION has updated the expected production start-up schedule and raised the anticipated production capacity of the Ichthys LNG Project, which it is currently developing as Operator alongside its project partners.
Production, which was initially expected to start toward the end of December 2016, is now expected to start in the third quarter of 2017 (July-September 2017). Meanwhile, INPEX will raise the annual LNG production capacity by approximately 6% to 8.9 MTPA from the initially planned 8.4 MTPA.
Since January 2012, when INPEX announced its final investment decision on the Ichthys LNG Project, the company has worked on developing the project in various locations around the world. While the project’s overall development was approximately 74% complete as of June 2015, INPEX updated the production start schedule based on the findings of a detailed review of the project’s development schedule. The company will continue to diligently proceed with development work while prioritizing safety.
It is expected that the revised production start-up schedule and other factors will increase the project’s investment. However, the increase is expected to be limited to approximately 10%.