Chief Minister Lia Finocchiaro has signed a historic Strategic Agreement with INPEX Corporation Director, Senior Executive Vice President, General Administration and Oceania Projects Head of Overseas Projects, Hitoshi Okawa, advancing the Northern Territory’s economic and strategic future.

The agreement was signed during the Chief Minister’s first overseas mission to Tokyo, reinforcing the Territory’s role as Japan’s most reliable energy partner.

“Approximately ten percent of Japan’s annual LNG needs are supplied from Darwin, making us not only economic partners, but strategic ones,” Chief Minister Lia Finocchiaro said.

“This Strategic Agreement with INPEX aligns with moves by Australia and Japan to strengthen our mutual economic, energy and security ties.

“In a mark of respect to our largest trading partner, my first overseas visit as Chief Minister has been to Tokyo, signalling the next era of Japanese investment and cooperation in the Territory.

“This agreement also formalises support for the exploration of INPEX’s decarbonisation journey with Carbon Capture and its broader renewable energy footprint which translates to real investment in the Territory.”

The new Strategic Agreement builds on this legacy, formalising shared priorities to:

• Boost Japanese investment into the Northern Territory.
• Expand skills and training for Territorians.
• Maximise service and supply opportunities for local businesses.
• Secure energy reliability for both the NT and Japan.
• Deliver on the path to net zero by 2050.

The Chief Minister and Mr Okawa also established an inaugural Coordination Committee to provide joint oversight and drive implementation of deliverables within the strategic agreement, with the first meeting set to take place in Darwin next month.

“I look forward to the Coordination Committee working through next steps to deliver value to Territorians,” Mrs Finocchiaro said.

Mr Hitoshi Okawa said the signing of the Strategic Agreement to Advance our Shared Interests will help underpin INPEX’s vision for creating sustainable long-term value in Australia.

“With the heart of our global business in Darwin, as operator of Ichthys LNG and the Bonaparte CCS assessment project, INPEX is proud to contribute to positive outcomes in the Territory through jobs, training, social and economic benefits”. 

“We look forward to continuing working together with the Northern Territory Government to realise our shared multi-decade Strategic Agreement”.  

Chief Minister Lia Finocchiaro will return to Australia tomorrow after visiting Tokyo since Tuesday evening.

The estimated cost of the trip for the Chief Minister and her Chief of Staff is $17,000, with final costs to be published on the Department of the Chief Minister and Cabinet website in line with government requirements.

Source: Northern Territory Government Newsroom