Japan's Inpex said on Friday that its first operated LNG project, Australia's Ichthys LNG, would be subject to cost blowouts, as have been all Australian LNG projects expected online between 2011 and 2015. The 10% additional costs, which raise the total budget to around $37.4 billion, are partly due to the project's delayed start-up, which has now been pushed back by up to nine months to the third quarter of 2017. This had long been expected by analysts since delays at most offshore Australian LNG projects have been the norm (IOD May21'15).
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