Board members who oversee INPEXs $55 Billion LNG gasprocessing facility in Darwin will make history tonight as the first to hold aboard meeting outside of their headquarters in Japan.
The 12 members have taken the unprecedented step of choosingDarwin as the site for their regular meeting.
Two gas processing facilities or LNG trains were built aspart of the Ichthys project off the Browse Basin.
The NT Government, INPEX and its joint venture partnersreached agreement for an optional development lease for the Ichthys LNG site in2016. Theextension of the lease creates a pathway to develop additional LNG processing trains,and in turn, positive business and employment outcomes.
NT ChiefMinister Michael Gunner will discuss INPEXs medium to long-term expansionplans beyond the two current LNG trains, during the Boards visit.
INPEX directlyemploys about 250 people, with an additional 600 contractors employed tosupport the maintenance and operation of the facilities.
An ACIL Allen economic assessment of the impact of Ichthys LNG from2012 to 2050 found the project will provide a $118 Billion boost in economic output. At peak production, IchthysLNG will boost the size of the NT economy by 15 per cent.
As stated by the Chief MinisterMichael Gunner:
Its a sign of great respect that the INPEX board is meeting in Darwin the first time a meeting of the board has been held outside of Japan.
The magnitude of this decision cannot be underestimated.
The fact INPEX chose Darwin over anywhere in the world wherethey have business interests is a testament to their confidence in the NTeconomy.
The Ichthys project is a 40 year commitment to Darwin.Excitingly we have the capacity for four more LNG trains in the medium to longterm.
