INPEX Corporation

What INPEX Corporation does

INPEX Corporation is Japan's largest-scale oil and gas exploration and production company, operating as an integrated energy developer across upstream exploration, development, LNG processing and export, downstream gas marketing, and an emerging portfolio of low-carbon energy solutions. The company's revenue base is anchored by long-lived hydrocarbon assets — most prominently the Ichthys LNG project in Australia (~9.5 million tonnes/year plus condensate, ~2% of global LNG supply), the Abu Dhabi offshore/onshore oil concessions, the planned Abadi LNG project in Indonesia's Masela Block (revised to ~$27 billion, targeting 2030 production), and domestic Japanese gas operations via the wholly-owned INPEX JAPAN subsidiary, which operates the Naoetsu LNG terminal and a domestic pipeline network. Long-term offtake agreements with bp, Shell Eastern Trading, PGN, PLN, Pupuk Indonesia, and a Danantara contingent arrangement structure LNG and pipeline gas sales principally to Japanese and Asian utilities, city gas companies, and Indonesian state entities under oil-linked contract terms.

The technology and product portfolio centers on five pillars: (i) the Nagaoka CO2 methanation demonstration in Niigata Prefecture with Osaka Gas — one of the world's largest-class facilities at 400 Nm3-CO2/h producing 96% concentration e-methane injected into natural gas pipelines, supported by NEDO since 2016; (ii) the Kashiwazaki Hydrogen Park, hosting Tsubame BHB electride-catalyst ammonia synthesis that demonstrated Japan's first commercial-scale blue hydrogen-to-ammonia CCUS chain; (iii) Metropolitan CCS, a joint venture with Kanto Natural Gas Development that received METI approval in April 2026 for exploratory drilling offshore Kujukuri targeting Nippon Steel-sourced CO2 storage by the early 2030s; (iv) the Goto Floating Wind Farm consortium — Japan's first commercial-scale floating offshore wind project at 16.8 MW using hybrid SPAR-type technology; and (v) the CO2NNEX digital platform with Mitsubishi Heavy Industries for Clean Gas Certificate management. INPEX lists on the Tokyo Stock Exchange under ticker 1605, with the Government of Japan (METI) holding ~23.74% of common shares plus a Class A share providing veto rights over material decisions — effectively positioning the company as Japan's designated national flag carrier for energy security while being publicly financed.

INPEX Vision 2035 targets a 60% business scale expansion and a 60% Scope 1+2 GHG intensity reduction by 2035 (vs 2019), supported by an ~¥18 trillion investment plan across 2025-2027. Go-to-market is enterprise/B2B field sales: long-term contractual negotiations with governments, national oil companies, utilities, refiners, and large industrial energy consumers, with FID-stage multi-year development cycles (typified by Ichthys and Abadi). Pricing is determined primarily by international crude oil and gas indices under long-term offtake contracts; oil-price sensitivity is ~¥5.5 billion in annual profit per $1/bbl change and FX sensitivity ~¥3 billion per 1 yen/USD. Customer concentration is anchored in a small set of large state-owned and integrated-energy counterparties, with Abadi LNG alone committed to multiple Indonesian state enterprises and bp/Shell. Headcount stands at ~3,720 consolidated employees, focused across engineering, exploration, and project execution functions in Japan, Australia, Abu Dhabi, Indonesia, and Norway.

Name

INPEX Corporation

Legal name

株式会社INPEX (INPEX CORPORATION)

Website

https://inpex.co.jp

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

INPEX Corporation is Japan's largest integrated energy exploration and production company, operating Ichthys and developing Abadi LNG alongside domestic gas, and CCS, hydrogen, ammonia, and offshore wind transition businesses for Asian utilities, governments, and industrial customers.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas / Energy Exploration and Production

NAICS

Petroleum and Coal Products Manufacturing (324), Industrial Gas Manufacturing (32512)

SIC

Oil & Gas Field Exploration Services (1382), Natural Gas Transmisison & Distribution (4923)

akta.pro primary industry

Renewable Diesel (HVO/HEFA) Production (EUAAAHAD)

Keywords

• Upstream oil and gas
• LNG production and export
• Carbon capture storage
• Blue hydrogen ammonia
• Offshore wind energy

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Technology or R&D, Infrastructure, Personnel, Marketing or Sales

Revenue model

1. Oil and Gas Production and Sales: INPEX's primary revenue stream comes from the exploration, development, production, and sale of crude oil, natural gas, and LNG. The company operates major producing assets including the Ichthys LNG project in Australia, Abu Dhabi offshore and onshore oil fields, and domestic Japanese gas fields. Production is sold under long-term contracts to national utilities, state-owned enterprises, and international markets.
2. LNG Trading and Exports: INPEX generates revenue from LNG exports through the Ichthys facility producing 9.5 million tonnes annually plus pipeline gas. The company is strengthening LNG trading functions to enable more flexible LNG supply as part of its growth strategy.
3. Domestic Natural Gas Sales: Domestic natural gas sales through INPEX JAPAN subsidiary, including gas sales, contracted gas production, and pipeline operations serving Japanese customers. Since 2010, the company purchases imported LNG regasified gas as feedstock, and since 2013 operates the Naoetsu LNG base.
4. Low-Carbon Solutions (CCS, Hydrogen, Ammonia): Emerging revenue stream from CCS services, hydrogen supply, and ammonia production. INPEX aims to provide GHG reduction solutions to third parties using its CCS and hydrogen core capabilities, creating new revenue sources aligned with energy transition goals.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

INPEX Corporation is an integrated energy development company that explores, develops, produces, and sells crude oil, natural gas, and LNG through operated assets such as the Ichthys LNG project in Australia and the Abadi LNG project in Indonesia. The company also sells natural gas domestically in Japan through INPEX JAPAN and is developing low-carbon solutions including CCS, blue hydrogen, ammonia, e-methane, and floating offshore wind power.

Product overview

INPEX Corporation is Japan's largest energy development company operating a diversified portfolio spanning the entire energy value chain. The company functions as an integrated energy developer offering oil and gas exploration, development, and production, alongside a growing suite of low-carbon energy solutions including CCS (Carbon Capture and Storage), hydrogen/ammonia, and floating offshore wind. Its core product portfolio centers on the Ichthys LNG Project (Australia), the Abadi LNG Project (Indonesia, under development), domestic natural gas operations via INPEX JAPAN, the Kashiwazaki Hydrogen Park, and the Nagaoka Methanation Demonstration producing e-methane. The company also operates CCS exploration drilling projects, participates in the Goto Floating Wind Farm consortium, and offers the CO₂NNEX® digital platform for managing Clean Gas Certificates — collectively covering traditional LNG, hydrogen, ammonia, carbon capture, and renewable energy.

Differentiator

Problem solved

Functional benefit

Brands

• INPEX Masela: Subsidiary responsible for Abadi LNG project development in Indonesia's Masela Block
• Ichthys LNG
• Nagaoka Methanation Demonstration

Products and services

• Ichthys LNG Project Major liquefied natural gas (LNG) export project in Australia operated by INPEX. The project processes gas from offshore fields in the Browse Basin and exports LNG from a facility in Darwin, producing condensates and LNG for global markets. Customers include Japanese utilities, Taiwanese energy companies, and other international buyers under long-term contracts.
• Abadi LNG Project A major onshore liquefied natural gas export terminal project in Indonesia's Masela Block, operated by INPEX, with planned production capacity of 9.5 million tonnes of LNG annually plus 150 million cubic feet of pipeline gas. Incorporates carbon capture and storage technology, with preliminary offtake agreements with bp, PGN, PLN, Shell Eastern Trading, and PT Pupuk Indonesia.
• Domestic Natural Gas and Oil Business INPEX's domestic operations in Japan conducted through subsidiary INPEX JAPAN, encompassing natural gas production, pipeline networks, LNG receiving terminals (including Naoetsu base), iodine production, and renewable diesel, serving Japan's domestic energy needs including utilities, city gas companies, and industrial consumers.
• CCS Operations INPEX is developing carbon capture and storage operations through joint venture Metropolitan CCS with Kanto Natural Gas Development. Exploratory drilling offshore Kujukuri in Chiba Prefecture targets storing CO2 captured from industrial sources including Nippon Steel Corporation's facilities by the early 2030s. Customers include heavy industrial emitters requiring emission reduction services.
• Kashiwazaki Hydrogen Park (Blue Hydrogen and Ammonia) Hydrogen production and demonstration facility in Kashiwazaki, Japan, where Tsubame BHB's ammonia synthesis facilities using an electride catalyst technology are co-located. Demonstrates full CCUS process from blue hydrogen and ammonia production to CO2 recovery and underground storage, with plans for larger 5,000-ton annual production capacity models.
• Goto Floating Wind Farm Japan's first commercial-scale floating offshore wind project at Goto, developed by a consortium including INPEX. The 16.8-MW facility features eight turbines using hybrid spar-type technology for deep-water operation, selected as the winner of Japan's first offshore wind auction. Provides electricity preferentially to local providers including Kansai Electric Power.
• Nagaoka Methanation Demonstration (e-methane) A CO2 methanation demonstration project developed by INPEX and Osaka Gas with NEDO since 2016, producing synthetic methane (e-methane) via CO2 methanation technology. One of the world's largest such facilities with production capacity of 400 Nm3-CO2/h, successfully injecting synthetic methane into a natural gas pipeline and receiving certification from the Japan Gas Association.
• US Gulf Coast Blue Ammonia Project Large commercial-scale clean ammonia production and export project on US Gulf Coast, partnering with KBR and LSB Industries. Blue ammonia technology for low-carbon ammonia production with carbon capture.
• Beetaloo Basin Natural Gas Development Natural gas resources development joint venture in Australia's Beetaloo Basin with Formentera Partners, establishing domestic Australian natural gas supply and facilitating LNG exports to Asian markets including Japanese utilities, city gas companies, and Taiwanese energy companies.

Quantifiable outcome

• 60% business scale expansion by 2035
• +6 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability5 records

Feature5 records

Partnerships

25 partnerships are on record, tiered strategic, operational, minor, core and major.

• Government of IndonesiastrategicChannel Partner/ Reseller/ Distributor · 25 June 2026Government accelerated $27B Abadi LNG project with Energy Minister meeting INPEX CEO. Project at Masela Block with construction expected to start 2027 following FID, targeting 9.5M tonnes LNG annually plus 150 MMcf pipeline gas.
• Offshore Alliance (Australian Workers Union / Maritime Union of Australia)operationalOthers · 17 June 2026Union representing over 400 workers at Ichthys LNG facility in Darwin. Negotiations resulted in 3.75% annual pay rises, improved job security and career progression systems. Deal ended weeks of strikes and allowed normal operations to resume.
• Japex NorgeminorStrategic or Co-development Partner · 20 April 2026OKEA selling 20% working interest in PL1119 (Mistral gas/condate discovery) to Japex Norge. Following divestment, Equinor remains operator with 60%, Japex takes OKEA's stake, and Inpex Idemitsu Norge continues with 20%.
• Kanto Natural Gas DevelopmentcoreStrategic or Co-development Partner · 15 April 2026Joint venture Metropolitan CCS with INPEX Corporation conducting CCS exploratory drilling offshore Kujukuri in Chiba Prefecture. First well Kujukuri-Oki A expected to drill within approximately four months using jack-up drilling barge.
• Formentera PartnerscoreStrategic or Co-development Partner · 30 March 2026Joint venture to develop natural gas resources in Australia's Beetaloo Basin combining Formentera's shale technology with INPEX's global LNG capabilities. INPEX initially acquiring approximately 68,000 net acres through phased earn-in worth up to $208 million, with option for additional 75,000 acres for $266-411 million.
• Daly Waters Energy / DWEcoreStrategic or Co-development Partner · 30 March 2026Strategic joint venture between DWE's owner (Daly Waters Energy) and INPEX enhancing Beetaloo Basin value and development potential. DWE executing farm-in agreement with Tamboran for approximately 10,000 acres involving staged earn-in of up to $28.5 million.
• Government of Indonesia (Danantara)strategicChannel Partner/ Reseller/ Distributor · 16 March 2026State investment fund potentially purchasing Abadi LNG gas if buyers not secured by April 2026. Government pushing for FID and EPC contract tender by year-end.
• Osaka Gas Co., Ltd.coreStrategic or Co-development Partner · 24 February 2026Joint development of world's largest-class CO2 methanation test facility in Niigata Prefecture. Plant processes 400 Nm3 CO2 per hour, producing synthetic methane (e-methane) at 96% concentration injected into natural gas pipeline. Collaboration selected for NEDO subsidy program in 2021 and constructed from 2023. Successfully injected synthetic methane on February 20, 2026.
• Osaka Gas Co., Ltd.coreStrategic or Co-development Partner · 24 February 2026Ongoing partnership for low-carbon city gas commercialization using CO2 methanation technology as part of both companies' energy transition strategies.
• Tsubame BHBcoreStrategic or Co-development Partner · 7 January 2026Tsubame BHB's ammonia synthesis facilities at INPEX's Kashiwazaki Hydrogen Park using original electride catalyst technology. Small, low-temperature, low-pressure ammonia production facilities. First commercial-scale blue hydrogen demonstration in Japan encompassing full CCUS process. Plans for larger 5,000-ton annual production capacity models.
• Toda Corp.coreStrategic or Co-development Partner · 5 January 2026Leading consortium partner for Goto Floating Wind Farm - Japan's first commercial-scale floating offshore wind project (16.8 MW). Project won Japan's first offshore wind auction.
• ENEOS Renewable EnergycoreStrategic or Co-development Partner · 5 January 2026Consortium partner for Goto Floating Wind Farm. Project selected as winner of Japan's first offshore wind auction.
• Kansai Electric PowercoreStrategic or Co-development Partner · 5 January 2026Consortium partner for Goto Floating Wind Farm project supplying electricity preferentially to local providers.
• Chubu Electric PowercoreStrategic or Co-development Partner · 5 January 2026Consortium partner for Goto Floating Wind Farm project contributing to Japan's offshore wind capacity goals.
• KBRmajorTechnology or Integration · 5 December 2025KBR selected to provide technology licensing and proprietary engineering design for 1.1 million tonnes per annum ammonia plant on US Gulf Coast. Blue ammonia technology for low-carbon ammonia production with carbon capture.
• LSB IndustriesmajorStrategic or Co-development Partner · 5 December 2025LSB Industries partnering with INPEX and KBR for large commercial-scale clean ammonia production and export project on US Gulf Coast. Project supports strategic goals of all three companies in advancing low-carbon ammonia production.
• bpmajorStrategic or Co-development Partner · 1 October 2025Preliminary agreement in principle for LNG offtake tied to Abadi LNG project in Indonesia's Masela Block. Agreements intended to support negotiations toward long-term sale and purchase agreements.
• PT Perusahaan Gas Negara (PGN)majorChannel Partner/ Reseller/ Distributor · 1 October 2025Preliminary agreement for LNG offtake and pipeline gas supply tied to Abadi LNG project. Indonesian state-owned gas company as potential distribution channel.
• PT PLN Energi Primer IndonesiamajorChannel Partner/ Reseller/ Distributor · 1 October 2025Preliminary agreement for pipeline gas supply tied to Abadi LNG project. Indonesian state electricity company as potential gas buyer.
• Shell Eastern TradingmajorChannel Partner/ Reseller/ Distributor · 1 October 2025Preliminary agreement for LNG offtake tied to Abadi LNG project. Major energy company as potential LNG buyer.
• PT Pupuk IndonesiamajorChannel Partner/ Reseller/ Distributor · 1 October 2025Preliminary agreement for LNG offtake tied to Abadi LNG project. Indonesian state fertilizer company as potential gas consumer.
• Mitsubishi Heavy Industries (MHI)coreTechnology or Integration · 11 September 2025Deployment of CO2NNEX digital platform to manage Clean Gas Certificates for e-methane produced in Nagaoka Methanation Demonstration. Platform visualizes attribute data of e-methane and raw materials (hydrogen and CO2), tracking certificate transfers throughout demonstration.
• Nagoya UniversitycoreTechnology or Integration · 1 January 2021Academic partner in CO2 methanation test facility development. Joint project selected for NEDO subsidy program in second half of FY2021, running to end of FY2026. University contributes to reaction process technology, simulation technology development, and long-term catalyst durability assessment.
• INPEX JAPANcoreTechnology or Integration · 1 January 2021Affiliate partner in methanation facility connecting INPEX JAPAN Nagaoka mine to Koshijihara plant for CO2 methanation technology development.
• NEDO (New Energy and Industrial Technology Development Organization)coreStrategic or Co-development Partner · 1 January 2016Long-standing collaboration on Nagaoka methanation demonstration project since 2016. NEDO-subsidized project aims to develop and scale up CO2 methanation technology for pipeline injection. Project on track for 400 Nm3-CO2/h production capacity with full testing targeted for 2025.

Scale indicators26 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• ENEOS Holdings: Japan's largest oil refiner and integrated energy company with domestic and overseas upstream, LNG trading, and emerging hydrogen/CCS activities. Closest Japanese peer to INPEX, sharing government relationships and transition ambitions.
• Idemitsu Kosan: Japanese integrated oil company with exploration, refining, and renewable energy businesses, including a joint venture with INPEX in Norway (INPEX Idemitsu Norge). Direct competitor in Japanese downstream and emerging CCS/hydrogen markets.
• Woodside Energy: Australia's largest independent LNG producer (Browse, Pluto, North West Shelf) with growing hydrogen/CCS ambitions and Beetaloo Basin presence. Closest direct competitor in Australian LNG and emerging Asia-Pacific energy transition markets.
• Santos: Australian oil and gas producer with major LNG (GLNG, Darwin LNG tie-in) and Beetaloo Basin acreage. Comparable through Australian LNG operations, Beetaloo exposure, and CCS/moomba initiatives.
• Equinor: Norwegian state-controlled integrated energy company with significant LNG, hydrogen, and CCS initiatives (Sleipner, Northern Lights). Comparable as a state-backed, transition-focused E&P operator; shares Norwegian Continental Shelf exposure via INPEX Idemitsu Norge.

Broad incumbents

• Mitsubishi Corporation: Japanese sogo shosha with major global LNG portfolio (including participating interests in multiple LNG projects), oil and gas investments, and energy transition businesses. Comparable through LNG offtake, energy transition investments, and Japan-listed scale.
• Mitsui & Co. Japanese trading house with substantial LNG portfolio (e.g., participating interests in global LNG projects), oil and gas E&P, and energy transition investments. Comparable as a Japan-based LNG/offtake counterpart and global energy investor.
• Shell plc: Global supermajor and one of the world's largest LNG producers, with major CCS/hydrogen transition programs. Comparable through LNG offtake role at Abadi (Shell Eastern Trading), global LNG trading, and integrated energy transition strategy.
• BP plc: Global supermajor with significant LNG portfolio and aggressive energy transition strategy. Comparable through LNG offtake at Abadi, global upstream diversification, and major hydrogen/CCS investments.
• TotalEnergies: French integrated supermajor with global LNG portfolio, major renewables, and CCS/hydrogen transition programs. Comparable through global LNG presence, integrated transition strategy, and Asia-Pacific customer relationships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/INPEX_OFFICIAL
• YouTubeyoutube.com/channel/UCh9WyX7YgT-FQkMBmUY1mDA
• LinkedInlinkedin.com/company/inpex
• Instagraminstagram.com/inpex_official

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments12 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about INPEX Corporation