An historic Commitment Statement has been signed between INPEX CORPORATION (INPEX) and the Northern Territory Government.
This week’s signing signifies both parties’ complementary targets and initiatives for the transition to a net zero emissions future, and the establishment of new economic and social developments within a competitive environment.
The signed non-binding agreement provides five business pillars for strategic alignment, collaboration and synergies and is supported by an agreed schedule of negotiation parameters, including:
Increase 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; and Establishing renewable energy targets and technology, electrification, as well as nature-based solutions to support a net zero society by 2050.
Quotes from Chief Minister Natasha Fyles:
“This week the Northern Territory Government and INPEX have made a very significant economic announcement for the Territory.
“Quality projects which bring long term jobs and opportunities for Territorians are projects that this Government will continue to foster.
“INPEX Vision @2022 outlines the company’s mid and long term strategy in the Northern Territory.
“Not only does it outline plans to expand the Ichthys LNG onshore plant in around 2030, it also highlights the intent to increase production up to 9.3 million tonnes of LNG per year, by 2024.”
Quotes from INPEX CORPORATION President and CEO Takayuki Ueda:
“INPEX is extremely pleased to be working together with the Northern Territory Government to support a cleaner energy future, with economic and social benefits flowing to Australian communities for decades to come.
“We are very proud Ichthys LNG is contributing to positive outcomes in the Northern Territory – through jobs, training and social and economic benefits.
“We believe industry-government collaboration is a powerful enabler for sustainable economic development, and INPEX is focused on playing a leading role as an operator in the proposed Darwin-based carbon capture and storage hub.
“Our commitment to shaping a cleaner future, also includes achieving net zero carbon emissions by 2050 in our upstream operations – and a 30 per cent reduction in our net carbon intensity by 2030 over 2019 levels.”
Northern Territory Government
