26 April 2024
INPEX to revise initial cost estimate of Ichthys LNG project
Publication date: 29 November 2011
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Japan’s INPEX said the cost estimate for its Ichthys LNG project in the Timor Sea needs to be updated due to unprecedented cost pressure in the LNG industry since its initial estimate two years ago, according to reports on Monday. Project partner Total said the project would cost $30 billion, at least 50% higher than INPEX’s original estimate of around $visual_editor0 billion.