$34 billion Ichthys LNG Project in Australia to create 3,000 Construction Jobs

Japan’s largest energy explorer has today committed to build the $34 billion Ichthys liquefied natural gas project in Australia, which would become one of the world’s biggest LNG facilities with an estimated 40-year life of processing gas from WA’s Browse Basin and over 3,000 jobs will be created during the construction phase.

Inpex chair Naoki Kuroda announced the much anticipated final investment decision in Darwin, the site elected to build the project’s onshore gas processing facility after early plans to build the hub north of Broome. The investment would be the single-largest in Australia from the Asian nation and create an initial 3000 jobs in Darwin with 1000 more off the WA coast. Once the project is fully operational it would shrink to 700 permanent staff.

The project would provide long term stable supply of energy to Japan after the Dai-Ichi nuclear station in Fukushima was crippled from an earthquake and tsunami in March. Ichthys is among $200 billion worth of LNG developments planned, or under construction, in Australia as the country moves toward the top spot in the global rankings of LNG suppliers.

Australia, with projects led by Chevron, Royal Dutch Shell, Woodside, will “rival” Qatar as the world’s biggest exporter by 2016, Energy Minister Martin Ferguson has said. “Ichthys will contribute significantly to the growth of the Australian economy while strengthening friendly ties between Japan and Australia,” Mr Kurodo said.

He said construction on the project was expected to begin at the Blaydin Point site in Darwin within the next month. Mr Karudo said tenders for the project would have to demonstrate how they would maximise use of Australian products and services to be successful.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s