Japan's Inpex is working to advance the start of its Abadi project in Indonesia to meet the government's request to speed up and has seen strong interest from Western…
Japan's Inpex is working to advance the start of its Abadi project in Indonesia to meet the government's request to speed up and has seen strong interest from Western majors to buy liquefied natural gas, CEO Takayuki Ueda said.
The long-delayed $20 billion project, which will produce up to 9.5 million metric tons of LNG a year, will be a major growth driver for Inpex, Japan's top oil and gas explorer. It aims to reach a final investment decision in 2027 for start-up in the early 2030s.
Jakarta has requested Inpex to accelerate the project to meet fast-rising local gas demand.
"We will make every effort to accelerate the project," Ueda told Reuters in an interview earlier this week, adding that the company is considering various design and contracting options despite challenges.
Strong Buying Interest
Asian importers and Western majors are keen to secure LNG produced in the region to meet rising power demand in 2030s, driven by data centre expansion, and for energy security due to heightened geopolitical risks, he added.
"We're still at the stage of non-binding expression of interest, but we're already seeing very strong interest from Asian countries and even supermajors," Ueda said.
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