The Northern Territory Government and Japan’s INPEX Corporation have signed a Commitment Statement towards the transition to net zero emissions, through the establishment of targets and initiatives, as well as new economic and social developments within a competitive environment.
INPEX is Japan’s largest exploration and production company, and its Ichthys LNG Project’s onshore gas liquefaction plant is located in the Northern Territory.
The signed non-binding agreement provides five business pillars for strategic alignment, collaboration and synergies, and is supported by an agreed schedule of negotiation parameters, including:
- Increase LNG production capacity and expand the onshore production facilities at Bladin Point
- Increase stable and clean energy supply and security for the Asia/Oceania region
- Create a multi-user carbon capture and storage hub at the Middle Arm Sustainable Development Precinct, acknowledging INPEX’s strong intention to lead the project as an operator
- Strengthen and increase local skills development, and services and supply capability by supporting Territory businesses and people as a platform for the future
- Establishing renewable energy targets and technology, electrification, as well as nature-based solutions to support a net zero society by 2050
Northern Territory, Chief Minister, Natasha Fyles, said the statement was a very significant economic announcement for the Territory.
“Quality projects which bring long-term jobs and opportunities for Territorians are projects that this Government will continue to foster,” Ms Fyles said.
“INPEX Vision 2022 outlines the company’s mid and long-term strategy in the Northern Territory.
“Not only does it outline plans to expand the Ichthys LNG onshore plant in around 2030, it also highlights the intent to increase production up to 9.3 million tonnes of LNG per year by 2024.”
INPEX President and CEO, Takayuki Ueda, said INPEX was extremely pleased to be working together with the Northern Territory Government to support a cleaner energy future, with economic and social benefits flowing to Australian communities for decades to come.
“We are very proud that Ichthys LNG is contributing to positive outcomes in the Northern Territory – through jobs, training, and social and economic benefits,” Mr Ueda said.
“We believe industry-government collaboration is a powerful enabler for sustainable economic development, and INPEX is focused on playing a leading role as an operator in the proposed Darwin-based carbon capture and storage hub.
“Our commitment to shaping a cleaner future, also includes achieving net zero carbon emissions by 2050 in our upstream operations – and a 30 per cent reduction in our net carbon intensity by 2030 over 2019 levels.”