Total sells 4% stake in Australian Ichthys LNG project for US$1.6bn
14 December, 2018
French supermajor Total has agreed to sell a 4% stake in the Australia Ichthys liquefied natural gas project to operating partner Inpex for US$1.6bn (£1.3bn).
The transaction will bring Total’s stake in the project, worth approximately US$33bn (£26bn), to 26% while bringing Inpex’s stake to 66.245%.
Located about 220km off the Western Australian coast, the Ichthys LNG project has been in production of gas since late July this year.
Inpex expects the project to ramp up its production volume of LNG gradually to nearly 8.9m tonnes per year.
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