# INPEX

INPEX is an Asset Manager based in Tokyo, Japan.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Tokyo, Japan
- **Region:** Asia
- **Address:** Tokyo, Japan
- **Founded:** 1966
- **Assets under management:** Undisclosed
- **Website:** inpex.co.jp
- **LinkedIn:** https://www.linkedin.com/company/inpex-corporation

## Regulatory record

- **Reports private funds:** No

## About

INPEX is Japan's largest energy development company. It conducts oil and natural gas exploration and production as well as LNG projects and advances hydrogen, ammonia, CCS/CCUS and renewable energy. The company operates globally, with core projects that include the Ichthys LNG Project in Australia and oil development and production in Abu Dhabi.

## Sectors

- Oil & Gas
- LNG
- Hydrogen & Ammonia
- CCS/CCUS
- Renewable Energy

## People

- Takayuki Ueda — President & CEO

## Questions

### Who is INPEX's largest shareholder, and how does that influence strategy?

Japan's Ministry of Economy, Trade and Industry (METI) holds roughly 21% of INPEX's outstanding shares, making it the single largest investor. This ownership anchors the firm's dual mandate: it must generate returns as a listed company while prioritizing Japan's energy security. The government's 2021 Strategic Energy Plan explicitly designates INPEX and the state agency JOGMEC as the country's primary instruments for securing long-term LNG and hydrogen supply.

### What is the Ichthys LNG project and why is it significant for INPEX?

Ichthys is an integrated LNG and condensate development offshore Western Australia, representing Japan's largest overseas upstream investment. INPEX operates the project with a 66% controlling stake, shipping roughly 9 million tonnes of LNG per year. The project's 40-year production horizon provides INPEX with baseline cash flows and a strategic loading port for hydrogen-derived fuel exports under development.

### How does INPEX approach energy transition investments?

INPEX allocates capital to green hydrogen, ammonia, offshore wind, and carbon capture through project-level partnerships rather than venture-style equity. Its hydrogen strategy centers on a demonstration plant in Western Australia linked to the Ichthys infrastructure corridor. The firm co-develops Japan's first commercial-scale blue hydrogen and ammonia supply chain with JERA, targeting 2030 offtake commencement.

### What is INPEX's geographic footprint outside Japan?

The firm operates or holds non-operated stakes in over 20 countries. Core production hubs sit in Australia, the UAE, Indonesia, and Timor-Leste, with exploration or development blocks in Norway, Iraq, Azerbaijan, and the US Gulf of Mexico. Its Middle East position is anchored by long-duration Abu Dhabi onshore and offshore concessions.

### Does INPEX function more like a national oil company or a listed independent?

INPEX occupies a structural middle ground. It trades publicly on the Tokyo Stock Exchange with independent board governance, yet METI's equity stake and the explicit energy-security mandate give it characteristics of a national oil company operating inside a listed chassis. This hybrid model is rare among peer Asian energy firms and shapes its risk tolerance on long-cycle, capital-intensive LNG and hydrogen projects.

### What role does INPEX play in Japan's hydrogen strategy?

Japan's Basic Hydrogen Strategy designates INPEX as a lead actor for overseas hydrogen production and maritime transport. The firm is developing a liquefied hydrogen supply chain from Australia's Latrobe Valley to Kobe, and separately a blue ammonia supply chain from the UAE. These projects are co-funded by Japan's state-controlled Green Innovation Fund.

### Who runs INPEX's organizational structure following the 2024 restructuring?

President and CEO Takayuki Ueda leads a five-unit global structure installed in January 2024. The units — clean fuel ammonia, hydrogen/CCUS, renewables, carbon capture, and methane management — reflect a deliberate shift away from a conventional upstream/exploration/production division model toward a carbon-management and fuel-transition architecture.

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Last updated: 2026-07-11T16:26:43.000Z

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