Inpex, Total Approve US$34 Billion Australian LNG Project
January 12 2012 - 6:11PM
Dow Jones News
Inpex Corp. (1064.TO) and Total SA (TOT) on Friday gave the
green light to construction of one of Australia's most expensive
energy projects, estimated by the pair to cost US$34 billion to
build over the next five years.
The hefty price tag for their Ichthys gas-export development is
broadly in line with a Citigroup estimate in June of US$32.5
billion and a recent Deutsche Bank estimate of A$31.9 million
(US$33 billion) and shows that international energy companies are
still prepared to place bold bets on a projected surge from Asia
for fuels that burn cleaner than coal, despite current global
economic jitters.
-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692;
Ross.Kelly@dowjones.com
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