Acting on behalf of itself and 35 per cent joint venture (JV) partner Shell, INPEX signed a heads of agreement on the basic principles regarding a plan of development for the project, located in the Arafura Sea, north of Darwin.
The agreement contains the cost estimation of the project, which involves developing the Abadi gas field through the construction of an onshore LNG plant, gas pipeline and offshore facilities, to produce approximately 9.5 million t of LNG per year.
INPEX President and CEO Takayuki Ueda said the agreement was another big step for the project.
“The execution of the heads of agreement, which follows a series of constructive discussions with the Indonesian government, positions the Abadi LNG Project as an economically competitive project by international standards,” he said.
“INPEX appreciates and values the proactive intervention of His Excellency Ignasius Jonan, Minister for Energy and Mineral Resources and the Indonesian Government, and looks forward to maintaining close and cooperative relations.”
The project serves as INPEX’s follow up to the Ichthys LNG Project which officially opened in November last year.
For more information visit the INPEX website.
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