We at INPEX CORPORATION would like to express our sincere appreciation for your continued understanding and support of the INPEX Group and our business operations.

As stated in our Mission, “we are committed to contributing to the creation of a brighter future for society through our efforts to develop, produce and deliver energy in a sustainable way.”

In recent years, the climate surrounding the energy industry has changed dramatically. Until a few years ago, the industry’s primary challenge was how to transition to decarbonization in response to climate change issues. Since Russia’s invasion of Ukraine, however, soaring oil and gas prices and a tight market balance have combined to spark the emergence of a trilemma. Today, the emphasis is on ensuring energy security and affordability (stable quantities and prices), while simultaneously balancing these factors against sustainability (environmental considerations toward decarbonization).

In terms of the transition, natural gas and particularly liquefied natural gas (LNG), which emits a relatively low volume of CO2 when burned compared with other fossil fuels like crude oil or coal, is expected to play a key role. This is a common understanding across the industrial sector.
Meanwhile, perceptions have shifted regarding the path to a net zero carbon society. There is a growing recognition that diverse pathways need to be considered. The speed and methods employed will have to reflect the circumstances and conditions of each country and region.

Considering these changes, we at INPEX will fulfill our responsibility to provide a stable supply of energy. LNG is the pillar of INPEX’s core oil and natural gas business built around the Ichthys LNG Project, which commenced production in 2018 off the coast of Australia. We have also been preparing to develop the Abadi LNG Project in Indonesia as our next growth driver, and we aim to begin production in around 2030 to supply growing LNG demand.
At the same time, we will reinvest revenue from the oil and gas business into low-carbon energy development, with the aim of becoming a world-leading company as a pioneer in energy transformation.

We will strive to further improve the corporate value of the INPEX Group while aiming to realize a sustainable future and promoting the supply of energy with a long-term view.

We look forward to your continued support and guidance.

Takayuki UEDA
Representative Director, President & CEO
INPEX CORPORATION
July 2024