The FINANCIAL — Total has signed an agreement to divest a 4% interest in the Ichthys liquefied natural gas (LNG) project in Australia to operating partner INPEX for an overall consideration of 1.6 billion USD. The transaction, which is subject to Australian regulatory approvals, reduces Total’s interest in the asset to 26%.
At full capacity, the Ichthys offshore facilities and the two-train onshore liquefaction plant will supply 8.9 million tons per year (Mt/y) of LNG and 1.65 Mt/y of liquefied petroleum gas (LPG), along with 100,000 barrels of condensate per day.
The first LNG cargo was exported on the October 22nd 2018, the first offshore condensate cargo was exported on October 1st 2018, and the first LPG cargo was exported on the November 16th 2018. The two LNG trains are now fully operational.