The company has signed a heads of agreement with Tokyo Electric Power Co. and Shizuoka Gas Co. for the purchase of its 630,000 tonnes/year equity portion from Prelude for a period of 8 years starting in 2017.
Tepco will take 560,000 tpy with Shizuoka taking the remaining 70,000 tpy.
Inpex has 17.5% interest in Prelude, which is scheduled to produce 3.6 million tpy of LNG from its FLNG facility now under construction. Gas will be supplied from Prelude and nearby Concerto fields in the Browse basin offshore northwest Western Australia.
The project development is on schedule to come on stream in 2017.