Japan-INPEX CORPORATION(INPEX)announcedtoday it has agreed to transfer 1.2% of its equity interest in the Ichthys LNG Project to Kansai Electric Power Co., Inc.(Kansai ElectricPower). The agreed transfer is required to meet all conditions precedent including approval by the Australian Government.

Equity interest in the Ichthys LNG Project includes the following elements:
• Participating interest in production licenses WA-50-L (Ichthysgas-condensate field) and WA-51-L
• Participating interest in exploration permit WA-285-P (adjacent to WA-50-L)
• Shares of Ichthys LNG Pty Ltd, whichowns gas pipelines and downstream liquefaction facilities, and undertakes natural gas liquefaction and marketing activities

Equity interest owners in the Ichthys LNG Project, in addition to INPEX, include Total, Tokyo Gas, Osaka Gas, Chubu ElectricPowerand Toho Gas. As announced on June 27, 2013, INPEX also has agreed to transfer 2.625% of equity interest in the project to CPC Corporation, Taiwan.This transfer is now in process.