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

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(Updates to add an Inpex representative's comments)

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.

In an email response to, an Inpex representative confirmed that a groundbreaking ceremony for the Indonesian project was held on July 16 but clarified that the project has not yet reached the final investment decision (FID) stage. "Full-scale construction activities are expected to commence following FID," the representative said.

(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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Update: Market Chatter: Inpex Starts Work at $20.9 Billion Abadi LNG Project in Indonesia | FINWIRES