* Total to raise stake from 24 pct
* No financial details given of additional stake
(Adds detail, executive comment)
PARIS, July 12 French oil group Total
has increased its stake in the $34 billion Ichthys liquefied
natural gas (LNG) project in Australia to 30 pct from 24
percent, the company said on Thursday.
Total had said previously it would raise its interest in the
project to 30 percent this year after reaching agreement with
partner Inpex Corp to buy an additional stake.
The French group, which did not disclose the cost of buying
the further 6 percent, said the deal would not have any impact
on agreements already struck to sell the entire annual output of
8.4 million tonnes from Ichthys for 15 years.
"This (deal) further enhances our presence in Australia and
our position as supplier in the Asian LNG market," Yves-Louis
Darricarrere, president of Total Exploration and Production, was
quoted as saying in a company statement.
The acquisition of the additional stake in Ichthys remains
subject to regulatory approvals, Total added.
(Reporting by Gus Trompiz; Editing by James Regan)