Japan’s largest oil and gas explorer’s operations in Australia
INPEX Corporation, Japan’s leading oil and gas exploration and production company, has established a significant presence in Australia through several key projects, notably the Ichthys LNG Project.
INPEX is currently offshore conventional gas, although their onshore exploration license at EP(A) 318 in the Northern Territory is shale gas, which requires ‘unconventional’ fracking. All shale gas requires fracking. This is an excerpt for their submission to Australia’s PRRT review.
Ichthys LNG Project
The Ichthys LNG Project stands as a cornerstone of INPEX’s operations in Australia. Discovered in 2000, the Ichthys Gas-Condensate Field is located approximately 220 kilometers offshore Western Australia and 820 kilometers southwest of Darwin.
Following extensive exploration and evaluation, INPEX made its final investment decision in January 2012. Production commenced in July 2018, with the first shipment of liquefied natural gas (LNG) occurring in October 2018. The project has since maintained stable production, shipping 117 LNG cargoes in 2021 and 112 in 2022. In 2023, INPEX aims to increase the annual LNG production capacity from 8.9 million tons to 9.3 million tons, aligning with its Medium-term Business Plan.
Exploration Activities
Beyond the Ichthys project, INPEX holds interests in 16 exploration blocks in the vicinity of the Ichthys Gas-Condensate Field and has discovered gas in several of these blocks. These exploration activities underscore INPEX’s commitment to expanding its resource base and ensuring long-term energy supply.
Renewable Energy Ventures
In line with global energy transition trends, INPEX is investing in renewable energy projects in Australia. In June 2024, the company reached a final investment decision on the Quorn Park Hybrid Project in New South Wales. This project combines a 98 MW direct current photovoltaic power generation system with a 20 MW/40 MWh battery energy storage system, aiming to maximize revenue and stabilize the grid by efficiently managing and dispatching electricity generated from solar power. This marks INPEX’s first final investment decision in Australia’s renewable energy sector since acquiring a 50% stake in Enel Green Power Australia in September 2023.
Carbon Capture and Storage (CCS) Initiatives
In response to climate change, INPEX is exploring carbon capture and storage (CCS) projects to capture, inject, and store COâ‚‚ emissions from its production operations. In August 2022, the company was awarded a greenhouse gas storage assessment permit (title G-7-AP) located off the northwestern coast of the Northern Territory. INPEX plans to conduct evaluation and appraisal work in this block, aiming to introduce CCS to the Ichthys project in the late 2020s, with an initial target of injecting 2 million tons or more of COâ‚‚ per year.
Community Engagement
INPEX is committed to contributing to the social and economic development of local communities in Australia. In fiscal year 2023, the company invested $43,604,000.00 Australian Dollars (4.4 billion yen) in social investment activities, focusing on building vibrant and economically resilient communities.
Through these diverse initiatives, INPEX demonstrates its dedication to sustainable energy development and community engagement in Australia, balancing its traditional oil and gas operations with forward-looking renewable energy projects.
Inpex website
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