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Australia's $34 billion Ichthys LNG gets a green light
Posted 13.01.2012 12:14:08 av John Bradbury
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A final investment decision has been made for the US $34 billion Ichthys LNG development offshore Australia by project owners Total and Japan's Inpex Corporation.

Designed to produce up to 8.4 million tonnes of liquefied natural gas (LNG) per annum, 1.6 m tonnes of Liquefied Petroleum Gas per annum, and 100,000 b/d of condensate, the project is due to go into production in 2016.

It involves taking gas from the huge Ichthys field in the Browse Basin offshore Western Australia and exporting gas to onshore facilities in Darwin, through a 889 kilometre (555 mile) pipeline.

The decision to go ahead with the project will trigger a major contract for a joint venture of KBR, JGC Corporation, and Chiyoda to carry out engineering, procurement and construction for the project. Already the Ichthys owners have issues a notification of award to the KBR, JGC and Chiyoda JV, and completion of the formal EPC contract is expected in the coming weeks, KBR stated today.

Middle Arm Peninsula at Blaydin Point in Darwin harbour in Australia's Northern Territory was selected back in 2008 as the location for a new LNG plant  to support the Ichthys development.

Inpex owns 76% of the project and Total holds the remaining 24% equity.
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