INPEX’s purchase and sales agreement would add 1 million tons per annum (mtpa) of LNG from the U.S. (Source: GoodIdeas/Shutterstock.com)
Japan’s INPEX Corp. signed a 20-year sales and purchase agreement with Global LNG for offtake from a Louisiana facility set to begin construction in 2023, INPEX said Dec. 27.
INPEX’ subsidiary, INPEX Energy Trading Singapore Pte. Ltd. (IETS), agreed to purchase 1 million tons per annum (mtpa) of LNG from the U.S., allowing it to expand its LNG supply capacity and diversify its supply sources to further contribute to the stable supply of energy worldwide.
IETS will purchase the LNG from Venture Global LNG’s CP2 LNG project, which is expected to begin construction in 2023 after obtaining U.S. government approval.
The free-on-board LNG will be delivered to INPEX’s Naoetsu LNG Terminal as well as other terminals in Japan and other countries.
INPEX aims to achieve a stable supply of clean energy by expanding its LNG trading business and strengthening its midstream and downstream businesses.
The company plans to increase the volume of LNG it handles by about 3 mtpa, aiming to handle about 10 mtpa by 2030 combining its equity volume from current projects.
INPEX is Japan’s largest E&P company. It is currently involved in projects across multiple continents, including the Ichthys LNG Project in Australia as operator.
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