Inpex Corp. (Inpex) announced Wednesday it has agreed to transfer 1.2 percent of its equity interest in the Ichthys LNG Project offshore Western Australia 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:
Equity interest owners in the Ichthys LNG Project, in addition to Inpex, include Total, Tokyo Gas, Osaka Gas, Chubu Electric Power and Toho Gas. As announced June 27, 2013, Inpex also has agreed to transfer 2.625 percent of equity interest in the project to CPC Corporation, Taiwan. This transfer is now in process.
Ichthys LNG Project equity interest ownership by company following completion of all transfers currently undergoing approval is as follows:
* Transfers in process
Inpex will continue to work with local communities, the government of Australia, and the authorities of Western Australia and the Northern Territory, as well as all parties involved, to ensure the timely and successful delivery of the project.
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