UPDATE: Ichthys LNG Train 1 to resume full-scale operations in Dec.
Train 1 at Australia's Ichthys LNG will resume full-scale operations at the beginning of December, operator Inpex Corp. said in an emailed statement on Tuesday, after its operation rate was reduced for inspections.
"Ichthys LNG Train 1 is operating at a slightly reduced production level for the inspection of heat exchangers, to ensure safe operations," said an Inpex company spokesperson. "Approximately 10 LNG cargo shipments per month are expected each for November and December."
Ichthys LNG has shipped 96 cargoes of LNG in the first 10 months of this year, according to Inpex's financial earnings material. It had exported 129 LNG cargoes in 2023.
An Inpex executive said at the company's earnings news conference on Tuesday that the overall production rate of Ichthys LNG is around 85% as of the second week of November, given that Train 1 is still running at a 70% rate.
"The production trouble at Ichthys will reduce Inpex's annual profit in 2024 by about 34 B yen," said senior vice president Daisuke Yamada. "The LNG output of Ichthys will miss the company's earlier target of 9.3 million tons, but will still stay above 8 million tons," he added, referring to 2024 output for the plant.
Ichthys LNG saw production issues earlier this year after Train 2 was taken offline in August due to a gas leak. It resumed operations on Oct. 9 after the gas leak issue was fixed.
The rate of operations at Train 1 was then reduced to 70% as part of inspections for preventive measures, said Inpex in September.
The company previously said the rate of operations at Train 1 is expected to return to 100% by mid-November.
Ichthys LNG is a joint venture between Inpex, TotalEnergies and the Australian subsidiaries of CPC Corporation Taiwan, Osaka Gas, Kansai Electric Power, JERA, and Toho Gas.
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