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Turnbull Government renews major project status for Inpex LNG project

30 April 2018

Joint media release with the Minister for Resources and Northern Australia, The Hon Matt Canavan MP.

One of Australia's most significant oil and gas projects has been granted renewed Major Project Status by the Australian Government to help meet its regulatory approvals.

The Inpex Ichthys LNG project features some of the world's largest offshore facilities near the Western Australian coast, and boasts onshore processing facilities near Darwin, all united by the longest subsea pipeline in the southern hemisphere.

In renewing Major Project Status the Government recognises the strategic significance of the project to Australia. The Government will assist Inpex to coordinate necessary state and federal regulatory requirements.

Minister for Jobs and Innovation, Michaelia Cash, welcomed the project's ongoing job creation, expected to reach 1800 jobs on average per year over its 40-year production phase.

"The Inpex Ichthys LNG project is one of Australia's most exciting and challenging developments," Minister Cash said.

"The assistance provided by the Australian Government exemplifies our efforts to ensure Australia's resource and energy sectors are globally competitive and innovative," she said.

"We are giving the project the best chance at success, helping to realise significant economic benefits and new jobs for decades to come."

Minister for Resources and Northern Australia, Matt Canavan, said the project would be a significant advancement when it came to developing Australia's gas reserves.

"This project is one of ten LNG projects in Australia representing over $200 billion of investment," Minister Canavan said.

"The Ichthys gas field underpinning this project was only discovered in 2000, and for a project of this size and complexity, 18 years from discovery to first production later this year is an achievement that Inpex should be proud of," he said.

"It will produce up to 8.9 million tonnes of LNG per year, creating $195 billion in exports, with $8 billion already injected into the Northern Territory economy during construction."

Construction of the Ichthys LNG project commenced in 2012, and over the six-year construction phase employment peaked at more than 8,000 workers on site in Darwin.

The project represents Japan's largest ever overseas investment with capital expenditure of more than US $37 billion.

Media contacts:

Minister Cash's office 02 6277 7320

Minister Canavan's office 02 6277 7180