Public Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPAN18 December 2012Ichthys LNG Project Completes Project Financing Arrangements

INPEX CORPORATION (INPEX) is pleased to announce today that the INPEX-led Ichthys
LNG Project has finalized arrangements for US$20 billion in project finance* loans including
those with eight export credit agencies (ECAs) and 24 commercial banks (ECAs andcommercial banks are referred to as “Lenders”). The Ichthys project financing is the biggest
project financing ever arranged in the international financial market.
* Project Financing: a method of financing where debt repayments are sourced primarily from theprojected cash flow of the project and security is limited to the project assets.

The incorporated

joint venture vehicle, Ichthys LNG Pty Ltd, is the Borrower for the Ichthys project financing.

The project finance credit facilities are comprised of direct loans from ECAs, ECA insured or
guaranteed commercial loans, commercial loans from 24 commercial banks and seniorsponsor loans from the Ichthys LNG Project participants.

Direct loans from ECAs includeUS$5 billion direct loans from Japan Bank for International Cooperation (JBIC) and US$2.75
billion loans insured by Nippon Export and Investment Insurance (NEXI).

Public Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPANDetails of Project Financing Arrangements:
ECAs direct loans (JBIC, KEXIM, Export Finance and Insurance

US$5.8 billion

Corporation (EFIC; Australia))
ECA insured/guaranteed commercial loans** US$5.4 billion

Commercial loans

US$4.8 billion

Total loans from Lenders

US$16.0 billion

Sponsor loans

US$4.0 billion

Total of Project Financing Arrangements

US$20.0 billion** US$5.4 billion insured or guaranteed loans comprise of NEXI (Japan), The Export-Import
Bank of Korea (KEXIM), Korea Trade Insurance Corporation (K-sure), Atradius Dutch StateBusiness N.V. (Atradius; the Netherlands), Euler Hermes Deutschland AG (Euler Hermes)
and Compagnie Française d'Assurance pour le Commerce Extérieur (Coface; France)
Each of INPEX and the other Ichthys LNG Project participants will severally guarantee
Lenders the repayment of the loans by Ichthys LNG Pty Ltd during the construction phase.
Japan Oil, Gas and Metals National Corporation (JOGMEC) will undertake a part of INPEX’sliability with respect to its portion of such guarantee, where JOGMEC’s liability is limited toUS$2 billion.
The Ichthys LNG Project is the first case where the Japanese company is leading such aworld-scale LNG project as an operator.

The finalization of the project financing

arrangements is a major milestone in ensuring the successful development of the promising
Ichthys LNG Project that will contribute not only to a long-term stable supply of cleaner
energy to Japan but also to a diversification of Japan‘s energy sources.
The participants in the Ichthys LNG Project appreciate the continued support from financial
institutions, the local communities, the governments of Australia, Western Australia andNorthern Territory, as well as support from other stakeholders for timely delivery of the Ichthys
LNG Project.

The outline of the Ichthys LNG Projecti. Production Start Target:
By the end of 2016

Public Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPANii. Reserves and Production Rate:
Reserves
Reserves equivalent to LNG production of 8.4 million tonnes per year for approximately
20 years and substantial LPG and condensate production

Production Rate
LNG 8.4 million tonnes per annum, LPG 1.6 million tonnes per annum andcondensate approximately 100,000 barrels per day (at peak)iii. Joint Venture Participants:
INPEX

:

66.070%TOTAL:*30.000%

Tokyo Gas Co., Ltd.

:1.575%

Osaka Gas Co., Ltd.

:

1.200%

Chubu Electric Power Co., Inc.

:

0.735%

Toho Gas Co., Ltd.

:

0.420%*Transfer of additional 6% interest from INPEX to TOTAL will be subject to the satisfactionof certain conditions precedent

iv. CAPEX:
US$34 billion (project 100% basis)
v. LNG gas buyers:
LNG gas buyers

LNG sales amount(million tonnes per annum)

Tokyo Electric Power Company, Inc

1.05mtpa

Tokyo Gas Co., Ltd.

1.05mtpa

The Kansai Electric Power Co., Inc.

0.80mtpa

Osaka Gas Co., Ltd.

0.80mtpa

Kyushu Electric Power Company Inc.

0.30mtpa

Chubu Electric Power Company, Inc.

0.49mtpa

Toho Gas Co., Ltd.

0.28mtpa

CPC Corporation, Taiwan

1.75mtpa

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

Total Gas & Power Limited

0.90mtpa

INPEX CORPORATION

0.90mtpa

15 years LNG sales commencing in 2017

vi. Major Government approvals:
Environmental approval, Pipeline licenses, Production Licenses all obtained

vii. EPC works:
Currently, we are working mainly on the detail design and material procurement for thevarious onshore and offshore facilities.
Onsite work is making a progress in Darwin, such as the site preparation work for theonshore LNG plant. Also, dredging work in Darwin Harbor and manufacturing of thepipes for gas export pipeline are ongoing.
The progress rate of overall EPC works is at approximately 9% as of the end of October
2012, which is on schedule.

Advisors to the Project Financing Arrangements
Financial advisors:

Mizuho Corporate Bank, Ltd.
Crédit Agricole CIBLegal counsels:

Allen & Overy LLP
Allens Linklaters

About INPEX
INPEX CORPORATION is a worldwide oil and gas exploration and production company
currently involved in more than 70 projects across 27 countries. INPEX is ranked in the top100 global energy companies and is listed on the Tokyo Stock Exchange.

INPEX has been apart of the Australian business community since 1986 and is involved in a number of projects inAustralia and the Timor Sea, including the large-scale Ichthys LNG Project, Van Gogh Project,
Ravensworth Project, Bayu-Undan Development and Darwin LNG.

Public Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPANIchthys Field Location

Ichthys LNG Plant, Darwin (image)Media Contact: INPEX Tokyo Office, Public Relations Group, Tel) +81-3-5572-0233