INPEX Pre-Empts JERA’s Ichthys LNG Stake Sale to MidOcean

Tokyo, 25 September 2026 – Japan’s INPEX has exercised a pre-emptive right over JERA’s 0.735% participating interest in the Ichthys liquefied natural gas project, interrupting a proposed transfer of that small stake to MidOcean Energy. The move gives the project operator a route to increase its ownership rather than allow the interest to pass to another buyer. Exercising the right is a transaction step, however, and should not be confused with confirmation that a transfer has already closed.

The percentage is modest, but project stakes carry more than a headline ownership number. They can determine exposure to production, future capital spending and cash flows over many years. Ichthys is a major Australian LNG development with offshore production and processing infrastructure linked to export facilities near Darwin. The project’s scale makes even a fractional interest strategically relevant to companies seeking long-term gas exposure.