Japanese upstream firm Inpex plans to raise around $6.6bn to finance its Ichthys LNG development project in the Australian sector of the Timor Sea.
Inpex will offer 1.22mn new shares for sale globally for the $20bn, 8.4mn t/yr Ichthys venture, targeted to start up by end-2016. Inpex has repeatedly delayed a final investment decision for Ichthys, now expected in the fourth quarter of 2011.
The firm plans to invest around 4 trillion ($45bn) in upstream development for the seven years from April this year, half of which is expected to be spent on Ichthys.
Inpex is also building a 100bn import terminal at Niigata prefecture's Naoetsu port to coincide with Ichthys coming on stream. The terminal will receive an initial 600,000-700,000 t/yr of LNG.
Inpex will offer 1.22mn new shares for sale globally for the $20bn, 8.4mn t/yr Ichthys venture, targeted to start up by end-2016. Inpex has repeatedly delayed a final investment decision for Ichthys, now expected in the fourth quarter of 2011.
The firm plans to invest around 4 trillion ($45bn) in upstream development for the seven years from April this year, half of which is expected to be spent on Ichthys.
Inpex is also building a 100bn import terminal at Niigata prefecture's Naoetsu port to coincide with Ichthys coming on stream. The terminal will receive an initial 600,000-700,000 t/yr of LNG.
