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Market Chatter: Inpex Starts Work at $20.9 Billion Abadi LNG Project in Indonesia

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Japanese oil exploration company Inpex (TYO:1605) has started work on the long-delayed $20.9 billion Abadi liquefied natural gas project in the Arafura Sea, off the Tanimbar Islands, Maluku province, Indonesia, Nikkei reported Thursday.

Inpex holds a 65% stake, while Indonesia's Pertamina and Malaysia's Petronas own the remaining interests, and the project is estimated to produce 9.5 million metric tons of LNG, along with condensate and pipeline gas, once fully operational by 2030.

Inpex did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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