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Report: Japan's Inpex seeks to expand in Australia

Japan's Inpex Corp. is planning to expand in Australia through its Ichthys LNG project and other possible acquisitions as it pursues its goal of becoming one of the top global energy companies, Reuters reported Sept. 13, citing a statement from the company's president director for Australia.

The Ichthys LNG plant in Darwin is fast approaching its full capacity of 8.9 million tonnes per annum and Inpex President Director for Australia Hitoshi Okawa expects that it will reach plateau production earlier than planned, which was within two to three years of startup, the report said.

Inpex can add four more LNG trains at the facility, and its pipeline from the Ichthys offshore field to Darwin has five potential points for pipeline interconnects from new gas fields, Reuters reported. Gas resources for the expansion could come from offshore fields or from Inpex's acreage in the Beetaloo shale basin in the Northern Territory, Australia, the report said.

Inpex completed construction on Ichthys LNG in 2018, shipping its first cargo in October 2018. The company holds a 66.245% stake in the $45 billion project.

The company could also acquire a stake in the Cash Maple gas field off northwestern Australia from PTT Exploration and Production PCL, Okawa told Reuters.

Through its Vision 2040 plan, Inpex is aiming to become a top 10 global oil company and a major gas company in Asia and Oceania through expansion in Australia and its three core areas of Japan, Indonesia and Abu Dhabi, according to the report.