July 12, 2012 / 10:42 AM / 5 years ago

Inpex sells stake in Ichthys LNG project to Total

TOKYO, July 12 (Reuters) - Japan’s Inpex Corp said on Thursday it has agreed to sell a 6-percent equity stake in the Ichthys liquefied natural gas project in Australia to its partner, Total.

The sale, pending approval by the Australian government and other administrative processes, would raise the share of French oil giant Total to about 30 percent and cut Inpex’s to 66.07 percent, Inpex said in a statement.

Inpex had been in talks to sell an additional stake in the $34 billion project to Total, which had expressed interest in lifting its stake to 30 percent.

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