Approved · Waiver · decided in 26 days, 21 Oct 2026
Resources & MiningWA-85057ACCC register
INPEX Ichthys Pty Ltd and INPEX Holdings Australia Pty Ltd are acquiring JERA's 0.735% interest in the Ichthys LNG Project. This oil and gas extraction transaction involves interests in the unincorporated joint venture and Ichthys LNG Pty Ltd. INPEX Corporation already holds a 67.82% stake, producing 9.3 million tonnes of LNG annually.
INPEX Corporation ( INPEX ) is an oil and gas exploration and production company headquartered in Tokyo, Japan. Its main business includes research, exploration, development, production and sales of oil, natural gas and other mineral resources. A subsidiary of INPEX operates the Ichthys LNG Project, and INPEX subsidiaries have a 67.82% interest in the Ichthys LNG Project. Ichthys LNG Pty Ltd is an incorporated joint venture holding certain assets for the Ichthys LNG Project. Ichthys LNG Pty Ltd owns the gas export pipeline, onshore LNG plant and storage and offloading facilities for the Ichthys LNG Project and conducts marketing activities on behalf of the joint venture. The upstream assets for the Ichthys LNG Project are owned by an unincorporated joint venture. The Ichthys LNG Project produces up to 9.3 million tonnes of LNG per annum at peak, as well as Liquified Petroleum Gas ( LPG ) and condensate as by-products. The Ichthys LNG Project operates across the chain of development and production of LNG, including subsea, offshore, pipeline and onshore LNG. Gas and condensate from the Ichthys gas field is exported to onshore facilities for processing near Darwin via an 890-kilometre pipeline. Almost all gas and condensate produced is exported overseas. In addition to its interest in the Ichthys LNG Project, INPEX indirectly holds minority participating interests in other floating liquefied natural gas ( FLNG ), liquified natural gas ( LNG ) and oil field projects in Australia and interests in leases relating to oil and gas exploration. JERA is a Japanese energy company involved in upstream development, fuel procurement and power generation, and wholesale supply of electricity and gas. The Acquisition principally comprises: INPEX Ichthys acquiring JERA’s 0.735% interest in the unincorporated Ichthys joint venture, which owns certain Commonwealth petroleum retention leases and titles, upstream infrastructure such as the floating production, storage and offloading facility and the central processing facility plus the rights, title and interests in certain asset documents regarding the Ichthys LNG Project, and INPEX Holdings acquiring JERA’s 0.735% interest in Ichthys LNG Pty Ltd (together, the Target Assets ).