The partners in the Ichthys liquefied gas project have signed a series of sales agreements that could be worth billions of dollars to the Australian economy, according to Minister for Resources and Energy Martin Ferguson.

 

The singing of the long-term supply contracts with Taiwan’s CPC Corporation and Chubu Electric Power and Toha Gas of Japan comes after the singing of previous sales agreements with five Japanese utility companies in December.

 

“Opening up a new market is a major step for the Australian LNG industry.  Today we add Taiwan to the list of countries that use clean, safe, reliable Australian LNG to help power their economies,” Minister Ferguson said.

 

“Taiwan is one of the world’s largest importers of LNG.  This sales agreement will boost overall LNG imports to Taiwan by over 15 per cent.”

 

Minister Ferguson said the Ichthys Project, if sanctioned, will be the single biggest investment in an Australian resources project by a Japanese or French company, through INPEX and Total.

 

“Japan is Australia’s oldest, largest and most valuable LNG trading partner.  Around 70 per cent of current Australian LNG exports go to Japanese customers,” Minister Ferguson said. 

 

“Japan has been receiving Australian LNG since 1989 when the first cargoes left the North West Shelf.  Japan was the foundation customer for this groundbreaking project and the second LNG project for Australia, Darwin LNG."