Go to the contents of this page.



What's New

Osaka Gas in agreement with Ichthys project for LNG purchase and for equity participation

December 06. 2011

Osaka Gas, in a consortium of buyers, namely Tokyo Electric, Tokyo Gas, Kansai Electric, and Kyushu Electric, has entered into agreement with Ichthys LNG Pty Ltd for a purchase of 800,000 tons per annum of LNG produced in Australia.  Also, the company, through its Australian affiliates, has concluded an agreement to acquire a 1.2% equity interest in the project.

In the Ichthys project where INPEX is the operator, natural gas is produced at Ichthys gas and condensate field offshore Western Australia.  The produced natural gas is transported through the pipeline to Darwin, Northern Territory, for processing and for liquefaction.  The project, having the total annual LNG output of 8.4 million tons, is scheduled for launch in the fourth quarter of 2016.

Terms of agreements
1.LNG purchase
(1) Seller: Ichthys LNG Pty Ltd, 76% owned by INPEX Holdings Australia Pty Ltd  (project operator and subsidiary of INPEX Corporation) and 24% owned by TOTAL E&P Holding Ichthys (subsidiary of TOTAL)
(2) Buyer: Osaka Gas Co., Ltd.
(3) Duration: 15 years commencing 2017
(4) LNG volume: 800,000 tons per annum
(5) Delivery: FOB (Buyer arranges LNG transportation to its receiving terminals.)
2.Equity participation
(1) Seller: INPEX Ichthys and affiliates in INPEX Group
(2) Buyer: Osaka Gas Ichthys Pty Ltd and Osaka Gas Ichthys Development Pty Ltd (wholly owned Australian affiliates of Osaka Gas)
(3) Equity holding of Osaka Gas: 1.2% of the project

Overview of Ichthys LNG project
(1) Gas and condensate fields: Block WA-37-R located offshore Western Australia
(2) Liquefaction capacity: total 8.4 million tons per annum (two trains, each with 4.2 million tons per annum)
(3) Scheduled start of production: 4th quarter of 2016

Locations of gas field and liquefaction plant 

Osaka Gas Co., Ltd.
Osaka Gas is one of the largest natural gas suppliers and a major energy services provider in Japan headquartered in Osaka with the customer base of 7 million mainly in the Kansai region. In addition to gas distribution and power generation business in Japan, the company is active in overseas energy markets both in upstream and downstream sectors having its assets in Australia, Oman, UAE, Indonesia, USA, Canada, Spain and Norway. During the year ending March 2011, the company purchased a total of about 8 million tons of LNG.

More News...