Inpex, a Japanese company, targets FID in 2027 for Indonesia's Abadi Liquefied natural gas project

Inpex Corp., Japan's largest oil and gas exploration company, announced on Thursday that it plans to make its final investment decision on the Abadi project for liquefied gas in Indonesia by 2027, as part of efforts to increase LNG supply.

The company has a three-year plan that will run through 2027. It plans to invest 11.8 trillion yen (11,7 billion dollars) in areas of growth, including the flagship Ichthys project in Australia.

"Natural Gas and LNG have relatively low greenhouse gas emission intensity compared to fossil fuels, and will play a growing role as practical fuels during the energy transition," Takayuki said at a press conference.

Inpex owns a stake of 65% in the Abadi Project and plans to start front-end engineering designs this year. The project will reach FID by 2027. Production is expected to begin in the early 30s.

Shell sold its 35% stake to Pertamina in Indonesia and Petronas Malaysia by 2023, after it had made changes to the project's planning.

Inpex intends to increase LNG production by adding a 3rd train at Ichthys, with a production target of the first half 2030s.

Ueda stated that through new investments its LNG production is expected to increase from 630,000 barrels of oil equivalent daily in the 2030s to 800,000 by 2030.

Inpex said it would also investigate cleaner, integrated gas-fired electricity generation. It aims to provide solutions for power-intensive sectors like data centres.

The company will also pursue resource recovery from brines and subsurface liquids.

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(source: Reuters)