Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Japan's Inpex reaches milestone in $21 billion LNG project in Indonesia

By Reuters News

JAKARTA, Oct 27 (Reuters) - Japanese explorer Inpex 1605.T has completed the planning and engineering phase of its Abadi LNG project at Indonesia's Masela gas block, an official said on Tuesday, reaching a milestone in the Southeast Asian nation's biggest gas project.

  • Inpex Masela, its subsidiary, will focus on reaching the final investment decision for the project, its president director Kenji Hasegawa said in a ceremony marking completion of the front-end engineering design phase

  • Djoko Siswanto, chairman of Indonesia's upstream oil and gas regulator SKK Migas, said he hoped for a final investment decision by January 2027 at the latest

  • Investment in the project could reach $22 billion, above Inpex's latest estimate of $21 billion, Djoko said

  • Inpex's discovery of gas in the Masela block was first announced in 2000

  • Its development has been delayed due to factors that include a request for design changes by a previous government, the pandemic, and a plan to incorporate a carbon-capture facility

  • Ground-breaking took place in July, when President Prabowo Subianto said he expected the project to be delivered as soon as possible

  • Inpex aims to start production in early 2030 but the government has sought earlier delivery

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.
The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.
 

Cryptocurrency-related content is intended solely as news and market commentary. Crypto Derivatives are not available to Retail clients registered with Capital Com (UK) Ltd.