INPEX has agreed to acquire JERA’s 0.735% participating interest in Australia’s Ichthys LNG project, raising its ownership in the project from 67.820% to 68.555%.
INPEX said on 25 September that it had agreed to acquire the interest by exercising its pre-emptive right. Reuters reported that completion remains subject to conditions including regulatory approval in Australia.
The transaction follows an agreement announced by JERA in March 2026 covering its interests in the Ichthys LNG and Gorgon LNG projects.
Under that transaction, JERA agreed to transfer a 0.735% interest in Ichthys LNG and a 0.417% interest in Gorgon LNG as part of a deal with MidOcean Energy. Completion was subject to government approvals and other contractual conditions.
MidOcean Energy said at the time that it would not retain the Ichthys interest. The stake was intended to be transferred to another existing participant in the Ichthys LNG joint venture once additional conditions had been satisfied. The company did not identify the recipient in its March announcement.
The 25 September announcement confirms that INPEX, the operator of Ichthys LNG, will acquire the 0.735% interest.
Official project information currently lists INPEX with a 67.820% interest, TotalEnergies with 26.000%, CPC with 2.625%, Osaka Gas and Kansai Electric Power with 1.200% each, JERA with 0.735%, and Toho Gas with 0.420%.
Ichthys LNG produces gas and condensate from fields offshore Western Australia. Gas from the fields is transported to processing and liquefaction facilities near Darwin in Australia’s Northern Territory. Production began in 2018.
JERA has said it will continue taking LNG from Ichthys under its existing sales and purchase arrangements after disposing of its project interest.
Reuters reported that INPEX expects the acquisition to have only a minor impact on its consolidated financial results.
