TotalEnergies and Inpex, partners in the Ichthys LNG project in Australia, have secured interest in a license that could provide future resources for the plant near Darwin.
The two companies have signed an agreement to acquire a 100% interest in the AC-RL7 permit in Australia, currently owned by PTTEP. TotalEnergies said in its press release that it will acquire a 26% stake in the permit, in line with its stake in Ichthys LNG, while Inpex will acquire the remaining 74% and take over the operation. The deal is subject to approval by the relevant authorities.
The permit covers an area of 160 square miles in the Timor Sea, approximately 155 miles northeast of Ichthys’ offshore facilities. It includes the Cash and Maple gas and condensate fields, discovered in 2002 and 1989 respectively, and subsequently appraised by several wells, TotalEnergies said.
The development of these fields is expected to contribute to the long-term supply of the Ichthys LNG natural gas liquefaction plant, in which TotalEnergies is a 26% partner, while INPEX and other Asian minority shareholders hold 74% remaining, TotalEnergies said.
“Thanks to this joint acquisition together with our partner Inpex, we are pleased to secure additional resources for the future supply of the Ichthys LNG plant. These resources will help us meet the long-term LNG demand of our customers in the Asia-Pacific region. This acquisition also supports the efforts made with Inpex in the joint venture Bonaparte CCS Assessment to assess the geological CO2 storage potential of the area, in order to reduce CO2 emissions from the Ichthys LNG project”, said Julien Pouget, Senior Vice President, Asia. -Pacific, Exploration and Production at TotalEnergies.
The Bonaparte CCS Assessment joint venture is made up of TotalEnergies, Inpex and Woodside. The trio has been granted a Greenhouse Gas Storage Assessment Permit, off the north-west coast of Australia, to carry out assessment and valuation work on Block G-7-AP, which is considered a promising area for geological CO2 storage.
By enabling permanent CO2 sequestration in the region, this project complements existing solutions to avoid and reduce greenhouse gas emissions from Ichthys LNG, TotalEnergies said.
To contact the author, please email andreson.n.paul@gmail.com
