In the 37 years since INPEX entered the Australian market in 1986, Australia has been our most important partner. Notably, in 2018, the INPEX-operated Ichthys LNG Project began production of LNG, LPG and condensate. Currently, Ichthys LNG produces about 10 percent of Japan’s LNG demand, and about 70 percent of the LNG produced at Ichthys is supplied to Japanese customers. Ichthys LNG is Japan’s largest ever investment in Australia, and is truly a bridge that links Australia and Japan.
INPEX positions Australia as a core business area, and has announced its policy of expanding its business in Australia. To make existing LNG projects cleaner as well as address global climate change issues in particular, in 2022, INPEX acquired acreage for the underground storage of greenhouse gases off the northwest coast of the Northern Territory where it plans to implement CCS operations. In 2023, we entered the renewable energy business in Australia, where we will develop a new energy portfolio and continue to contribute to developing the economic partnership between Japan and Australia.
Key Milestones
1986
Acquisition of stake in AC/P7 Block offshore Western Australia
1989
Discovery of the Griffin Field Complex offshore Western Australia
1998
Bidding and acquisition of exploration acreage for the Ichthys LNG Project
2000
Discovery of gas and condensate at Block WA-285-P offshore Western Australia
2012
Final Investment Decision (FID) and acquisition of production license for the Ichthys LNG Project
2018
Production startup of the Ichthys LNG Project and the start of shipment of LNG, condensate and LPG
2023
Entry into Australian renewable energy business with Enel Green Power S.p.A
Message from Toshiaki Kitamura
INPEX CORPORATION Chairman
INPEX is helping meet the world’s demand for reliable, affordable and clean energy, while actively working towards a net-zero carbon society by 2050.
As INPEX CORPORATION Chairman, I am extremely proud of our company’s long-term commitment to Australia, where we have been an active member of the business community since 1986.
INPEX places great importance on respect and trust-based relationships, and we greatly value the beneficial and long-term partnership between Australia and Japan.
What we have achieved in Australia – and what we continue to achieve – has been made possible due to the support we have received from industry stakeholders, local communities, Traditional Owners and government.
Australia is at the heart of our global energy business. Today, more people work for INPEX in Australia than in Japan.
The INPEX-operated Ichthys LNG project in northern Australia is one of the most complex and sizable energy developments in the world – and represents the largest overseas investment by a Japanese company.
For Australia, Ichthys LNG will have lasting positive impacts.
Across its operational life, Ichthys LNG is forecast to contribute in additional gross domestic product to Australia. With each Ichthys LNG cargo, we are proudly supporting an anticipated 40 years of social and economic benefits flowing back to Australian communities.
For Japan, Ichthys LNG is seen as integral to supporting long-term energy security by providing around 10 per cent of the nation’s LNG imports.
More broadly, our INPEX Vision@2022 identifies many opportunities to expand our business activities in Australia, while supporting sustainable energy development.
Australia and Japan have long shared a highly complementary relationship in the energy and resources sector.
As we work to transition to a low-carbon society, I believe this trusted relationship between our two countries will grow from strength to strength.
It is my hope that Australia and Japan are entering a new chapter and forging a partnership that delivers sustainable energy and economic prosperity to the people of both countries, while also addressing climate change.
I extend my congratulations to the Australia Japan Business Cooperation Committee for its significant ‘diamond’ anniversary. I also offer my sincere thanks for the important role the Committee plays in strengthening the valuable energy partnership between Australia and Japan.
Looking to the next sixty years of our countries’ continued friendship, I believe we have a bright future ahead of us.
The content of these webpages has been prepared by the respective member companies of the AJBCC and JABCC. Any comments, opinions or beliefs expressed in the pages are those of the relevant organisation alone. They do not represent the views of the Committee (or any of its officeholders or other members), and we do not assume any liability for them. If you have any concerns please contact us on contact_us@ajbcc.com.au
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