Inpex Corp. said its affiliate agreed to sell a 30 percent interest in Indonesia's Abadi offshore liquefied natural gas project to a Royal Dutch Shell Plc. subsidiary.
The company didn't disclose financial terms of the deal in a statement to the Tokyo Stock Exchange today.
The company didn't disclose financial terms of the deal in a statement to the Tokyo Stock Exchange today.
Inpex owns 90 percent Masela LNG plant with a capacity of 4.5 mtpa while PT Energy Mega Persada holds the remaining interest.
Inpex will be required to supply the gas to a receiving terminal in Aceh province. Apart from the Masela project, Inpex plans to build a $19.6 billion floating offshore terminal with a capacity of 4.5 million tons to take output from the Abadi field in the Timor Sea.
Inpex had planned to use the new terminal, 200 kilometers south of Saumlaki Island, Maluku, to store gas from the Abadi field in the Timor Sea. Inpex has said that the Abadi field, which is scheduled to start producing natural gas in 2016, could hold reserves of 10 trillion cubic feet.
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