Market Chatter: Japan Monitors LNG Supply Risks Amid Strike at Inpex's Ichthys Project
Japan is monitoring the impact of an ongoing strike at Inpex's (TYO:1605) Ichthys LNG project in Australia after a court rejected a bid to halt the action, Reuters reported on Wednesday, citing Industry Minister Ryosei Akazawa.Akazawa said the government remains in close contact with Inpex and is tracking labour negotiations, fuel procurement, and utilities' contingency measures to maintain stable energy supplies, the newswire said.The Offshore Alliance reportedly plans to extend the strike until July 6, potentially disrupting LNG shipments from the facility, which produces roughly 9.3 million tons annually, the publication said.The project is majority-owned by Inpex at 67.82%, with TotalEnergies, Taiwan's CPC, Osaka Gas(TYO:9532), Kansai Electric Power (TYO:9503), JERA and Toho Gas (TYO:9533) holding the remainder, the report said.Japanese utilities, including equity partners along with Kyushu Electric (TYO:9508) and Tokyo Gas( TYO:9531), collectively purchase about 5.7 million tons per year from the project, it said.Inpex declined to comment on the strike's effect on production or shipment volumes, the news agency 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.)
