Companies news

TotalEnergies acquires a 26% interest in the Cash-Maple gas discoveries for the long-term supply of Ichthys LNG

TotalEnergies and INPEX have signed an agreement with PTTEP to acquire the 100% interest held by PTTEP in the AC-RL7 permit in Australia.

TotalEnergies will acquire a 26% interest in the permit in line with its equity in Ichthys LNG, while INPEX will acquire the remaining 74% and assume operatorship.

The permit covers an area of 418 sq.km in the Timor Sea, approximately 250 kilometers northeast of the Ichthys offshore facilities.

Julien Pouget, Senior Vice President Asia-Pacific, commented: 

“Thanks to this joint acquisition together with our partner INPEX, we are pleased to secure additional resources for the future supply of the Ichthys LNG plant. These resources will help us to meet the long-term demand of our customers in the Asia-Pacific region for LNG." 

The development of these fields is expected to contribute to the long-term supply of the Ichthys LNG natural gas liquefaction plant, in which TotalEnergies is a partner while INPEX and other Asian minority shareholders hold the remaining %.

Julien Pouget added:

"This acquisition is also supported by the efforts undertaken with INPEX in the Bonaparte CCS Assessment joint venture to appraise the area’s potential for geological storage of CO2, in order to abate CO2 emissions from the Ichthys LNG project”.

Source: TotalEnergies press release