Ichthys LNG project operator Inpex reached an agreement in principle with Astomos Energy Corporation for the sale of liquid petroleum gas to be produced from the project.
Inpex and Astomos, a Japanese LPG shipping, trading and import company, will negotiate detailed terms and conditions including the sales of Ichthys LPG handled by Inpex Trading, an Inpex unit, to Astomos on a free-on-board basis with the aim of signing legally binding sales and purchase agreement.
Ichthys LNG project is expected to start production by the third quarter of 2017, and is set to have an annual LNG production capacity 8.9 mtpa and 1.6 million tons of LPG per year.
The project is a joint venture between Inpex, major partner Total, Taiwan’s CPC Corporation and the Australian subsidiaries of Tokyo Gas, Osaka Gas, Kansai Electric, Chubu Electric Power and Toho Gas.