INPEX signs Liquefied Natural Gas (LNG) Sales and Purchase Agreement with Chubu Electric for INPEX ’ s Naoetsu LNG Terminal

INPEX signs Liquefied Natural Gas (LNG) Sales and Purchase Agreement with Chubu Electric for INPEX’ s Naoetsu LNG Terminal , Japan INPEX C ORPORATION (INPEX) announces today that INPEX signed a Liquefied Natural Gas ( LNG ) Sales and Purchase Agreement ( LNG SPA ) with Chubu Ele ctric Power Company, Inc. (Chubu Electric) to purchase LNG for Naoetsu LNG Terminal , Joetsu City, Niigata Prefecture (at the Naoetsu Port ar ea), Japan, which is currently under construction. Under the LNG SPA , INPEX will, for a period of approximately 5 years from 2013, purchase 17 LNG cargoes ( approximately 1 million to n n e s of LNG) from Chubu Electric. INPEX plans to import the LNG produced from our major oversea LNG projects , such as Ichthys LNG Project in Australia operated by INPEX, and establish a “ Gas Supply Chain ” through INPEX ’ s domestic pipeline network. In order to secure LNG for the period until the Ichthys LNG Project to start its production, INPEX has executed the LNG SPA with C hubu Electric. Naoetsu LNG Terminal will star t commissioning in August 2013 and commercial operation early next year. After the commercial start - up, INPEX ’ s natural gas supply chain will be reinforced by the gas which INPEX develops and produces overseas in addition to the gas produced in Japan. INPEX continues to work on “ reinforcing its Gas Supply Chain ” aligned with INPEX Medium - to Long - Term Vision and make efforts to supply natural gas, an environmentally friendly fuel, in a stable manner by maintaining safety management of the pipeline system.