Japan's Inpex has doubled down on its commitment to expanding liquefied natural gas (LNG) production in Australia, identifying a long-anticipated third processing train for its Ichthys LNG project in Darwin as a key part of its newly launched Inpex Vision 2035.   

Inpex, backed by Japan's strong gas push, signalled fresh enthusiasm for Australia with a multibillion-dollar roadmap for Ichthys—but it all depends on Australia cutting red tape.

In March 2023, CEO Takayuki Ueda warned that the country's gas policies could have "sinister consequences." By December, reports suggested Japan's trust in Australia's energy security was fading, putting LNG and hydrogen investments at risk

"This focus on LNG is good news for Ichthys.," MD Bill Towsend said at EXA 2025 in Perth today.  

"The project has a 40-year lifespan, meaning operations could run until at least 2058. However, we currently don't have enough gas in the Ichthys reservoirs to sustain that timeline. 

"There're two reservoirs to keep our facilities full for the full 40-year operating life so we are intending to find backfill and we found some with Cash Maple already and we'll continue to do so to keep our facilities up and running at full capacity until 2058 or beyond," he added.   

Townsend said Inpex growth would need an expansion at the facility, driven by growing regional demand. 

"Beyond the two processing trains that we have in Darwin, we're looking to expand with the third train there, on the back of the demand growth," he added.    

"Recent data from Rystad shows gas demand in the region is set to rise 60% over the next decade, peaking in 2035," he said.   

"That contradicts some popular narratives and underscores the need for long-term supply."   

Inpex is also taking steps to address Ichthys LNG's high carbon footprint, with plans to cut emissions in the near term.   

"We've formed a joint venture with Woodside and TotalEnergies on the Bonaparte CCS project, which we see as a world-scale carbon capture and storage opportunity," Townsend said.  

"For Ichthys alone, this could reduce CO₂ emissions by about 40%," he added. 

Source: Energy News Bulletin