Regional: Inpex signs more LNG sales deal for Ichthys project

Japan?s oil and gas giant company Inpex Corporation said it has signed sales agreement to supply up to 2.52 million tons per annum (MTPA) of LNG for 15 years to CPC Corporation, Chubu Electric Power Company Inc and Toho Gas Co. Ltd., from its Ichthys LNG project off Western Australia's north.

The delivery of LNG from the US$30 billion Ichthys project will commence in 2017.

The three buyers finalized today a sales and purchase agreement with the shareholders of Ichthys project, Inpex Corporation and Total, the company said in a media statement.

The agreement covers the sales of LNG amounting to 1.75 MTPA for CPC, 0.49 MTPA for Chubu Electric and 0.28 MTPA for Toho Gas.

This follows the announcement of December 6, 2011 of LNG sales and purchase agreements totaling 4.0 mtpa with a consortium of five major Japanese utility companies composed of Tokyo Electric Power Company, Inc, Tokyo Gas Co., Ltd., The Kansai Electric Power Co., Inc., Osaka Gas Co., Ltd. and Kyushu Electric Power Company Inc., and LNG offtake agreements for 1.8 mtpa were also agreed by Inpex and a Total affiliate.

Editing by Dadan Wijaksana