Inpex Corporation (INPEX) is targeting the final investment decision (FID) for the Abadi liquefied natural gas (LNG) project in the Masela Block to be completed by 2027. According to a Reuters report on Thursday (February 13), this move is part of their efforts to expand the supply of Liquefied Natural Gas (LNG). Inpex, which holds a 65% stake in the Abadi project, plans to begin front-end engineering design this year and achieve the FID by 2027, with the goal of starting production in early 2030. Overall, the company plans to invest 1.8 trillion yen (approximately IDR 190.24 trillion) in growth initiatives through 2027, including its flagship Ichthys LNG project in Australia.
Inpex President Takayuki Ueda stated at a press conference that natural gas and LNG have relatively low greenhouse gas emissions compared to other fossil fuels and will play an increasingly important role as practical fuels in the energy transition. Previously, Minister of Energy and Mineral Resources Bahlil Lahadalia announced that the Ministry had issued a First Warning Letter (SP1) to INPEX, the developer of the Masela Block, as the block had yet to enter the onstream or early production phase despite the Plan of Development (POD) being approved 26 years ago. Meanwhile, SKK Migas Head Djoko Siswanto recently targeted this year to find a buyer for the gas from the Abadi field, as securing a gas buyer will allow the FID to proceed.
