Northern Territory Government Newsroom

Historic INPEX Board Meeting Held in Darwin

Board members who oversee INPEX’s $55 Billion LNG gas processing facility in Darwin will make history tonight as the first to hold a board meeting outside of their headquarters in Japan.

The 12 members have taken the unprecedented step of choosing Darwin as the site for their regular meeting.

Two gas processing facilities or LNG trains were built as part of the Ichthys project off the Browse Basin.

The NT Government, INPEX and its joint venture partners reached agreement for an optional development lease for the Ichthys LNG site in 2016. The extension of the lease creates a pathway to develop additional LNG processing trains, and in turn, positive business and employment outcomes.

NT Chief Minister Michael Gunner will discuss INPEX’s medium to long-term expansion plans beyond the two current LNG trains, during the Board’s visit.

 INPEX directly employs about 250 people, with an additional 600 contractors employed to support the maintenance and operation of the facilities.

 An ACIL Allen economic assessment of the impact of Ichthys LNG from 2012 to 2050 found the project will provide a $118 Billion boost in economic output. At peak production, Ichthys LNG will boost the size of the NT economy by 15 per cent.

 Quotes from the Chief Minister Michael Gunner:

 “It’s a sign of great respect  that the INPEX board is meeting in Darwin – the first time a meeting of the board has been held outside of Japan.

“The magnitude of this decision cannot be underestimated.

“The fact INPEX chose Darwin over anywhere in the world where they have business interests is a testament to their confidence in the NT economy.

”The Ichthys project is a 40 year commitment to Darwin. Excitingly we have the capacity for four more LNG trains in the medium to long term.”

 

Media contact: Andrea Allen 0401 119467.