Japanese LNG terminal developer, Inpex said its board of directors voted to establish a finance unit in Singapore.
The company intends to create a more efficient and centralized system to manage the Group’s intercompany finance operations and to strengthen the framework to support the financial administration of the its projects in Asia and Oceania, the statement reads.
Inpex is developing the US$34 billion Ichthys LNG project in Australia. The project is scheduled to start production by the third quarter of 2017, and is set to have an annual LNG production capacity 8.9 mtpa.
Together with its partner Shell, Inpex has also proposed a plan to develop an LNG project in Indonesia that will use the feed gas from the Abadi gas field in the Masela block to produce between 7.5 mtpa and 9.5 mtpa of LNG.
LNG World News Staff