A significant commitment statement between INPEX CORPORATION (INPEX) and the Northern Territory Government has been signed to strengthen strategic collaboration with our largest export trading partner.

The commitment captures our complementary transition targets and initiatives, acceleration of carbon capture, utilisation and storage (CCUS) solution and realising new economic and social opportunities in a competitive net-zero-emissions future.

The non-binding agreement incorporates 5 pillars for strategic alignment, collaboration and synergy, with an agreed schedule of negotiation parameters to:

• increase liquefied natural gas (LNG) production capacity and expand the onshore production facilities at Bladin Point
• increase stable and clean energy supply and security for the Asia/Oceania region
• create a multi-user carbon capture and storage hub at the Middle Arm Sustainable Development Precinct, acknowledging INPEX’s strong intention to lead the project as an operator
• strengthen and increase local skills development, and services and supply capability by supporting Territory businesses and people as a platform for the future
• establishing renewable energy targets and technology, electrification, as well as nature-based solutions to support a net-zero society by 2050.

Middle Arm is home to the INPEX-led Ichthys LNG project supporting supply of over 10% of Japan’s and Taiwan’s annual global LNG imports.

The INPEX Vision @2022 details plans to increase LNG production up to 9.3 million tonnes and expand the Ichthys onshore plant at Middle Arm with a 3^rd LNG train as demand is anticipated to surge to more than 800 million tonnes per annum by 2050, with the majority expected to be consumed in Asia.

Harnessing the Territory’s natural gas resources to support expanded LNG export markets presents more than just increased revenue prospects. Territory gas, as a low-carbon energy source is also the launch pad for the emerging local sustainable gas-based processing and manufacturing sector at Middle Arm.

The Middle Arm Precinct vision is transforming the peninsula into a globally competitive low-emissions precinct - harnessing the Territory’s strategic advantages to build on existing industry, drive sustainable new manufacturing sectors and transform how energy is produced, transported and consumed.

Carbon capture facilities are a proven decarbonisation tool critical in realising the Middle Arm precinct vision, with the proposed hub shared-user hub to be one of the world’s largest facilities of its kind.

CCS technologies are considered a key element in supporting energy-intensive industries to reduce emissions and lead the transition towards net-zero emissions by 2050.