Lng Project: Inpex and Nagano Prefecture

lng project: Inpex will start front-end engineering and design work after the government approves its development plan, which it will submit within weeks, according to The Japan Times. A final investment decision is expected in two to three years, with output to begin in the second half of next decade, he said. ; This is a massive LNG project, Ueda said. A heads of agreement between the two includes an extension of the company's contract to operate the Masela block by 27 years until 2055, Inpex President Takayuki Ueda told reporters Sunday at a G20 energy and environment ministers meeting in Karuizawa, Nagano Prefecture. The venture, which will produce about 9.5 million tons of LNG annually once it's fully operational, is extremely significant for Inpex and Indonesia, because the nation doesn't have any other large natural gas fields, he said. Developing the Abadi field in the Masela block and the accompanying LNG export project will cost 18 billion to 20 billion, the largest single investment activity in Indonesia, the nation's energy ministry said in a statement. The agreement is a small move forward for the project, which Inpex had to redesign as an onshore plant after the Indonesian government rejected its proposal for a floating-LNG facility in 2016. (news.financializer.com). As reported in the news.