Public Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPANOctober 23, 2018

INPEX-operated Ichthys LNG Project Commences LNG Shipment
TOKYO, JAPAN - INPEX CORPORATION (INPEX) announced today that theINPEX-operated Ichthys LNG Project (the Project) recently commenced shipment of liquefied
natural gas (LNG) as the first shipment of LNG departed the onshore gas liquefaction plant inDarwin in the Northern Territory of Australia en route to the INPEX-operated Naoetsu LNG
Terminal in Niigata Prefecture, Japan. The shipment follows the Project’s shipment ofcondensate (ultra-light crude oil), which commenced on October 1, 2018, as announced on
the same day.
The Project is scheduled to gradually increase its production volume of LNG, and produce
approximately 8.9 million tons of LNG per year, equivalent to more than 10% of Japan’sannual LNG import volume, when it reaches its production plateau. As approximately 70% of
the LNG produced by the Project is scheduled to be supplied to Japanese customers, INPEX
will further contribute to the stable supply of energy to Japan through the Project andcontinue to respond to the energy demand in Asia and the rest of the world. The Project isalso scheduled to commence the shipment of liquefied petroleum gas (LPG) following
shipment of LNG.

The Project’s first LNG shipment undertaken by the LNG carrier “Pacific Breeze”

INPEX will continue to work toward achieving stable production and an early ramp-up at theIchthys LNG Project with the understanding and cooperation of all its stakeholders, including
the project’s joint venture partners, the local communities, the Australian federal government
and the governments of Western Australia and the Northern Territory.
The Project’s expected revenue contribution remains unchanged from the outlook
announced in the company’s forecasted consolidated financial results for the year ending
March 2019 announced on August 9, 2018.
In terms of dividend forecasts, as announced at the beginning of the current fiscal year,
INPEX plans to issue a commemorative dividend of ¥6 per share following the Ichthys LNG
Project’s start-up and shipment of cargo.
About INPEX
INPEX CORPORATION is Japan’s largest exploration and production (E&P) company, and a
mid-tier E&P player just behind the world’s oil majors. INPEX is currently involved inapproximately 70 projects across more than 20 countries, including the Ichthys LNG Projectin Australia as Operator. Through sustainably growing its oil and gas development business,
INPEX aims to become a top class international oil and gas E&P Company and continue
providing a stable and efficient supply of energy to its customers. For more information, visit
https://www.inpex.co.jp/english/index.html.
About the Ichthys LNG ProjectThe Ichthys LNG Project is a project led by INPEX (Operator, participating interest: 62.245%)
alongside major partner TOTAL (participating interest: 30%) and the Australian subsidiaries
of CPC Corporation, Taiwan (participating interest: 2.625%), Tokyo Gas (participatinginterest: 1.575%), Osaka Gas (participating interest: 1.2%), Kansai Electric Power(participating interest: 1.2%), JERA (participating interest: 0.735%) and Toho Gas(participating interest: 0.42%) that involves liquefying natural gas lifted from the Ichthys
Gas-condensate Field offshore Western Australia at an onshore gas liquefaction plant
constructed in Darwin, Northern Territory, and producing and shipping approximately 8.9
million tons of liquefied natural gas (LNG) and approximately 1.65 million tons of liquefied
petroleum gas (LPG) per year, along with approximately 100,000 barrels of condensate per
day at peak. The Ichthys LNG Project is a large-scale LNG project by global standards, andis expected to be operational over a period of 40 years. In 1998, INPEX acquired anexploration permit in the block where the project is located, and following development
studies including exploration, evaluation and FEED work, the company announced its finalinvestment decision (FID) in January 2012. Thereafter, following the construction of therequired facilities, the Project commenced production of gas from the wellhead in July 2018
and commenced shipment of condensate in October 2018.
For more details on the Ichthys LNG Project, visit
https://www.inpex.co.jp/english/ichthys/index.html.
Media Contact: INPEX Tokyo Office, Public Relations Group, Tel) +81-3-5572-0233