It has also raised production capacity 6% to 8.9 million tonnes/year from the initially planned 8.4 million tpy.
The delay comes after a detailed review of the development schedule for the project off Western Australia. Overall development was about 74% complete in June, the company said (OGJ Online, July 8, 2014).
The increase in LNG production capacity is based on Inpex’s recent technical information and evaluation, it said. The revisions are expected to increase project investment by as much as 10%.
The company said it expects a shortened time frame between the start of production and the point where stable production is reached. All the LNG initially planned to be produced has been sold, with about 70% going to Japan.
Operator Inpex has 62.245% interest in the project, which will liquefy natural gas from the Ichthys gas-condensate field at an onshore gas liquefaction plant in Darwin, Northern Territory.
Inpex acquired an offshore exploration permit in 1998 and a final investment decision on the project was announced in January 2012.