Inpex agrees on floating LNG option for Masela

Japan firm Inpex Corp. has agreed to focus to develop floating LNG plant at Masela block in Timor Sea, a BPMIGAS top official said on Monday.

BPMIGAS Chairman R. Priyono said Inpex has agreed to focus on the option after two other options; piping the gas to LNG processing plant in Darwin, Australia or piping the gas to Aru island in Timor were discounted as politically and technically infeasible.

Priyono said Inpex will build 4.5MTPA LNG plant with total investment of US$14 billion.

He estimated that the plan of development (PoD)proposed by Inpex would be okayed in November this year with production seen to start in 2015.

Inpex has 100 percent interest in Masela block. (bernard)