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INPEX Completes transfer of Ichthys LNG Project 6% Interest to Total

Source: www.gulfoilandgas.com 3/1/2013, Location: Not categorized

INPEX and Total have completed the necessary procedures to transfer a 6% of the Ichthys LNG Project equity interest to Total.

The Ichthys LNG Project equity interest includes the following elements:
1. Participating interest in production licenses WA-50-L (Ichthys gas-condensate field) and WA-51-L
2. Participating interest in exploration permit WA-285-P (adjacent to WA-50-L)
3. Shares of Ichthys LNG Pty Ltd (a downstream company which owns the LNG facilities, liquefies natural gas and does marketing LNG and liquids)

As a result of the transfer, the Ichthys LNG Project equity interests will be as follows: INPEX 66.070%, Total 30.000%, Tokyo Gas 1.575%, Osaka Gas 1.200%, Chubu Electric 0.735%, Toho Gas 0.420%.

Upon the completion of the transfer, INPEX’s ordinary income and income before income taxes in its consolidated financial results for the year ending March 31, 2013 are expected to increase by approximately 42.0 billion yen respectively. Since such increase has been already incorporated in INPEX’s forecasts for consolidated financial results for the year ending March 31, 2013 announced on February 6, 2013, the forecasts will not be revised.

The Ichthys LNG Project Joint Venture participants appreciate the continued support from the local communities, the governments of Australia, Western Australia and Northern Territory, as well as support from other stakeholders for timely delivery of the Ichthys LNG Project.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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