Inpex Corp. (1064.TO) and Total SA (TOT) on Friday gave the green light to construction of one of Australia's most expensive energy projects, estimated by the pair to cost US$34 billion to build over the next five years.

The hefty price tag for their Ichthys gas-export development is broadly in line with a Citigroup estimate in June of US$32.5 billion and a recent Deutsche Bank estimate of A$31.9 million (US$33 billion) and shows that international energy companies are still prepared to place bold bets on a projected surge from Asia for fuels that burn cleaner than coal, despite current global economic jitters.

-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; Ross.Kelly@dowjones.com

Tokyo Gas (PK) (USOTC:TKGSY)
Historical Stock Chart
From Jan 2025 to Feb 2025 Click Here for more Tokyo Gas (PK) Charts.
Tokyo Gas (PK) (USOTC:TKGSY)
Historical Stock Chart
From Feb 2024 to Feb 2025 Click Here for more Tokyo Gas (PK) Charts.