Japan’s Inpex is running slightly behind schedule at its $34 billion Ichthys LNG project in Australia, but the project is still on target for start-up by the end of 2016.
The giant LNG project was 74 percent complete as of June, four or five percentage points behind target, but it was still on budget, Managing Executive Officer of Inpex, Masahiro Murayama said, Reuters reports.
“ It’s delayed by about a quarter ,” he said. “ To recover, we have been trying hard, adjusting various schedules and so on.”
The Ichthys project is a joint venture between Inpex, major partner Total, CPC Corporation and the Australian subsidiaries of Tokyo Gas, Osaka Gas, Kansai Electric, Chubu Electric Power and Toho Gas.
Gas from the Ichthys field, in the Browse Basin offshore Western Australia, will be exported to the onshore processing facilities in Darwin via an 889 km pipeline.
The LNG project is expected to produce 8.4 million tons of LNG and 1.6 million tons of LPG per annum, along with approximately 100,000 barrels of condensate per day at peak.
LNG World News Staff; Image: Inpex