INPEX CORPORATION (INPEX) has agreed to transfer 1.2% of its equity interest in the Ichthys LNG Project to Kansai Electric Power Co., Inc. (Kansai Electric Power). The agreed transfer is required to meet all conditions precedent including approval by the Australian Government.
Equity interest in the Ichthys LNG Project includes the following elements:
◾ Participating interest in production licenses WA-50-L (Ichthys gas-condensate field) and WA-51-L
◾ Participating interest in exploration permit WA-285-P (adjacent to WA-50-L)
◾ Shares of Ichthys LNG Pty Ltd, which owns gas pipelines and downstream liquefaction facilities, and undertakes natural gas liquefaction and marketing activities