trending Market Intelligence /marketintelligence/en/news-insights/trending/2-q8tjkywzgew0nek-cs4w2 content esgSubNav
In This List

Australia's Ichthys LNG project begins 1st production

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds

Blog

Insight Weekly: Cryptocurrency's growth; green bond market outlook; coal investors' windfall

Blog

Insight Weekly: Challenges for European banks; Japan's IPO slowdown; carmakers' supply woes

Blog

Infographic: Q4’21 US Battery Storage by the Numbers


Australia's Ichthys LNG project begins 1st production

Production from the first offshore well at the Ichthys LNG Project in Australia has begun, according to a July 30 news release from Total SA, which owns a 30% stake in the project.

At full capacity, the offshore facilities are expected to produce 285,000 barrels of oil equivalent per day and 85,000 barrels of condensate per day.

The gas will be exported to an onshore plant, which will produce 8.9 million tons of LNG per year that will supply the fast-growing Asian market, and approximately 1.65 million tons of liquefied petroleum gas per year as well as an additional 15,000 barrels of condensate a day.

The project consists of the development of the Ichthys gas and condensate field offshore northwestern Australia and a gas pipeline together with an onshore LNG plant near Darwin.

Onshore installations consist of two LNG trains with a combined capacity of 8.9 million tons per year and facilities for the extraction and the export of LPGs and condensate.

Operator Inpex Corp. holds a 62.245% in the project.