Regional LNG: Japan's Inpex plans Australian LNG plant

Japanese energy company Inpex Corp. plans a multibillion-dollar export liquefied natural gas development offshore Western Australia, The Australian newspaper reports Friday.

Inpex hopes to be producing early next decade from its Ichthys reservoir, about 450 kilometers north of Broome in the Browse Basin, the newspaper says, citing Inpex Australia general manager Shinsuke Ban.

The gas reserve, which is due for release in about three months, is expected to be "substantially above" the officially reported 6 trillion cubic feet of gas and 230 million barrels of condensate, the Australian says.

Inpex said it may develop an LNG processing plant on an island in the Bonaparte Archipelago east of the reservoir.

Australia's Woodside Petroleum Ltd. (WPL.AU) has plans to develop an 8-million-tons-a-year project at the nearby Breacknock and Scott Reef discoveries in the Browse Basin, the newspaper says.(*)