Total, Inpex Commit To $34B Aussie Gas Project

Law360, New York (January 13, 2012, 1:20 PM EST) -- Japanese energy company Inpex Corp. and French petroleum giant Total SA signed a deal late Thursday for a $34 billion liquefied natural gas project in northern Australia, the second-biggest project ever launched in the country and a big bet on future gas demand in Japan.

The Ichthys project will tap a deep-water gas field off Australia's northern coast and is expected to produce 8.4 million tons of LNG per year for 40 years. First production is scheduled for 2016, the companies said.

“In delivering this important...
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