Tokyo Electric mulls Ichthys stake

Tokyo Electric Power Co is reportedly considering buying a stake in Inpex's $20 billion Ichthys liquefied natural gas project.

Bloomberg reported Tokyo Electric managing director in charge of fuel procurement, Arai Takao, as saying the utility aims to complete talks this year regarding a 1 per cent stake in the joint venture.

He did not say how much the company would invest in the project.

A Bloomberg survey of analysts found Tokyo Electric may need to invest $200 million to hold the 1 per cent interest.

Inpex holds a 76 per cent interest in the project while Total E&P Australia hold the balance.