Total sells 4% stake in Ichthys LNG export project to INPEX

Total has signed a deal to sell 4% of its stake in the Australian Ichthys LNG export project to Japanese operator INPEX for $1.6 billion. The transaction, which is subject to Australian regulatory approvals, reduces Total's interest in the asset to 26%.

Once fully operational, the Ichthys offshore facilities and the two-train onshore liquefaction plant will have capacity of 8.9 million mt/year of LNG. The two LNG trains are now fully operational. The first LNG cargo was shipped from the terminal on October 22, to the Naoetsu LNG terminal in Japan's Niigata Prefecture.

Total also has a 20% interest in the $27 billion Russian Yamal LNG export project, which reached full capacity of 16.5 million mt/year this week. Its portfolio also includes participating interests in liquefaction plants, notably in the Cameron LNG project in the US, long-term LNG sales and purchase agreements, an LNG tanker fleet as well as access to regasification capacities in Europe.