BAKU, Azerbaijan, Mar. 21. Any surplus volume that could be rerouted from the Ichthys LNG Project to Europe would be minimal, Japan’s INPEX company told Trend.
The Japanese government has asked INPEX to help with LNG supply to Europe amid growing tensions between Russia and Ukraine which pose a risk of energy supply disruptions.
The company said that approximately 70 percent of LNG produced at Ichthys, its flagship LNG project, is destined for Japanese buyers.
"The Ichthys LNG Project is running at full capacity and drawing surplus production presents challenges. Our first priority lies in fulfilling our responsibility of providing a stable supply to the domestic (Japanese) market to secure supplies in Japan during this period of high demand. Any surplus volume that could be rerouted to Europe would therefore be minimal," said INPEX.
The company noted that for fiscal year 2021, its total average oil and natural gas production was 584.3 thousand BOED, of which natural gas production amounted to 1,251.3 million cf/day or 240.8 thousand BOED.
European imports of liquefied natural gas climbed to a monthly record in January 2022, according to the German Association of Energy and Water Industries (BDEW), with at least 8.1 million tons arriving at the 37 European terminals.
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