INPEX-operated Ichthys LNG Project Celebrates Naming Ceremony for LNG Tanker to Supply CPC Corporation, Taiwan

TOKYO, JAPAN - INPEX CORPORATION (INPEX announced today that a naming ceremony was held for the LNG tanker that will supply liquefied natural gas (LNG) from the INPEX-operated Ichthys LNG Project to CPC Corporation, Taiwan (CPC). This ceremony took place today at Kawasaki Heavy Industries’ (KHI) Sakaide Works in Kagawa Prefecture, Japan where construction of the tanker was recently completed. This tanker will transport the 1.75 million tons of Ichthys-produced LNG per year allocated to CPC under a sales and purchase agreement*.

*For more information on the LNG sales and purchase agreement with CPC, see January 10, 2012 press release.  

The naming ceremony was attended by CPC executives and numerous other distinguished guests, and the LNG tanker was named “PACIFIC BREEZE.” INPEX President & CEO Toshiaki Kitamura also attended the ceremony.

The LNG tanker was newly built based on a construction agreement between Pacific Breeze LNG Transport S. A. (PBLT), a subsidiary of Kawasaki Kisen Kaisha Ltd. (K-Line) as the owner, and KHI, and is scheduled to be deployed in conjunction with the production startup of the Ichthys LNG Project. Through its subsidiary INPEX Shipping Co., Ltd. (INPEX Shipping), INPEX jointly established IT MARINE TRANSPORT PTE. LTD. (ITMT) on May 8, 2013 with TOTAL Marine Transport B.V., a subsidiary of Ichthys LNG Project partner TOTAL, at an ownership ratio of 68.77% (INPEX Shipping) to 31.23% (TOTAL Marine Transport B.V.). Through ITMT, INPEX has entered into a time charter agreement for this tanker with PBLT.

The LNG tanker is approximately 300 meters in length with a beam of approximately 52 meters. It is the world’s first MOSS-type LNG tanker to adopt an electric propulsion system that features a diesel engine fueled by both natural gas and bunker fuel and provides high fuel efficiency. The tanker’s 182,000-cubic meter tank capacity is one of the world’s largest among MOSS-type LNG tankers.

In addition, through INPEX Shipping, INPEX jointly established Oceanic Breeze LNG Transport S. A. (OBLT) on April 4, 2013 with K-Line at an ownership ratio of 70% (K-Line) to 30% (INPEX Shipping), and has commissioned Mitsubishi Heavy Industries (MHI) to construct an LNG tanker through OBLT. INPEX and K-Line will jointly own this LNG tanker, which will transport INPEX’s own LNG offtake from the Ichthys LNG Project—0.9 million tons per year—to INPEX’s Naoetsu LNG Terminal in Joetsu, Niigata Prefecture, Japan. The tanker is currently undergoing the final stages of construction work at MHI’s Nagasaki Shipyard & Machinery Works in Japan.

INPEX will continue to work toward the success of the Ichthys LNG Project with the understanding and cooperation of all its stakeholders, including its joint venture partners, the local communities, the Australian federal government and the governments of Western Australia and the Northern Territory.

Official INPEX CORPORATION Media Release available here

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