INPEX announced INPEX Vision 2035 – Realizing a Responsible Energy Transition in February 2025. INPEX Vision 2035 outlines our long-term strategy toward 2035, considering the latest shifts in the global energy landscape as well as the Company’s business environment. The vision also consists of our mid-term Business Plan that presents specific targets and a clear roadmap for the three-year period between 2025 and 2027. Our mission is to continue sustaining a stable supply of energy primarily through oil and natural gas, while steadily contributing toward the decarbonization of society. In alignment with the vision, we will respond to the energy demands of Japan and countries around the world while actively contributing to the transformation of the global energy landscape supporting the transition to net zero emissions by 2050.
Our initiatives for sustainability management over the period of the Long-term Strategy and Mid-term Business Plan toward 2035 are detailed below.
Please refer to the INPEX Vision 2035 page of the INPEX website for details.
What INPEX Aims to Achieve by 2035
Pillar for Growth 1: Expand natural gas and LNG business
- Expand liquefaction capacity of the Ichthys LNG Project while maintaining safe and reliable operation
- Aim to achieve FID1 for the Abadi LNG Project by 2027, with a target to start up by beginning of 2030s
- Strengthen LNG trading capabilities to achieve a more flexible supply
- Focus on exploration activities in high-potential areas where early monetization is possible
Pillar for Growth 2: Provide lower-carbon solutions leveraging CCS and hydrogen
- Promote lower-carbon solutions by leveraging our capabilities and technical expertise
- Reduce GHG emissions by integrating CCS into our natural gas and LNG projects, and provide GHG emission reduction solutions and supply blue hydrogen to third parties
Pillar for Growth 3: Drive initiatives in the energy and resources fields by leveraging INPEX’s distinctive capabilities
- Aim to expand our businesses in power-related fields as an integrated energy company
- Contribute to the development of a high-value-added power supply system by combining renewable energy with balancing power sources such as battery storage and cleaner gas-fired power generation2
- Explore opportunities to extract non-oil and natural gas subsurface resources that support the enhancement of energy supply system
1Final investment decision
2Aim to reduce GHG emissions by integrating CCS with the co-firing or full combustion of blue hydrogen
Illustration of CFFO growth
Net carbon intensity outlook
** For projects that were operated as of 2019, we aim to reduce emissions on an absolute basis. We will further take initiatives in collaborating with supply chain stakeholders to reduce Scope 3 emissions. Furthermore, through low-carbon initiatives leveraging CCS and hydrogen, as well as renewable energy projects, we aim to contribute to a reduction of 8.2 Mtpa in GHG emissions (the amount our company contributes to GHG emission through products and services).
Please refer to Climate Change for details on our specific efforts to achieve carbon intensity targets.
Specific Efforts
Strengthening HSE (Health, Safety and Environment) efforts
We are committed to achieving zero major incidents3 and reducing GHG emissions, while also actively addressing other global environmental issues.
Continue operations with zero major incidents
We will maintain zero major incidents by strictly complying with the Life-saving Rules and by fostering active dialogues between our leaders and employees at each site
- Strengthen efforts to reduce Company-wide incidents
- Enhance Company-wide process safety management4
- Establish and implement HSE management in all business areas
- Enhance HSE communication under management leadership
Please refer to Safety for details on our specific efforts to achieve our targets.
Achieve environmental commitments
We will address global environmental issues beyond GHG reduction
- Achieve net zero deforestation in operational projects starting in 2025 or later
- Implement 100% of planned biodiversity conservation activities
- Maintain zero freshwater withdrawal in high water stress5 areas
- Maintain a final landfill rate of 1% or less for drilling cuttings
- Maintain recovery rate of 70% or more of waste generated by regular operations
Please refer to Biodiversity Conservation and Environmental Pollution Measures for details on our specific efforts to achieve our targets.
3Fatalities, serious injuries, and major leaks occurring in operator projects
4Disciplined framework to implement good design principles, engineering, operation, and maintenance for prevention and control of events that have the potential to release materials and energy, potentially leading to major incidents such as hazardous material release or fire/explosion
5A state of limited availability of freshwater as defined by the World Resources Institute
Strengthening foundation to drive productivity
As two key drivers for enhancing productivity, we will strengthen workforce performance and fully leverage digital technology.
Strengthen workforce performance
We will enhance quality and work efficiency by becoming an employer of choice and creating a most rewarding workplace.
Employer of choice
- Provide practical growth opportunities
- Achieve a competitive level of compensation
Environment where talent thrives – a most rewarding workplace
- Optimize organizational structure and workforce allocation
- Enhance motivation through a fair performance assessment system
- Foster a culture of continuous challenge and innovation
- Create an environment where diverse talent can work vibrantly
- Strengthen leadership skills among line managers who drive the organization
- Develop individuals who embrace challenges without fear of failure by balancing psychological well-being with suitable performance expectations
Please refer to Human Capital for details on our specific efforts.
Maximize the strategic use of digital technology
We will make full use of digital technologies and AI across all fields to enhance productivity, while ensuring information security.
Operational optimization through digital transformation
- Drive operational optimization and automation and enhance the safety and efficiency of plant maintenance to achieve higher operational uptime, cost optimization, and improved safety.
- Leverage AI, digital twins, robotics, and mobile solutions for operational optimization, automate GHG monitoring and aggregation, and create effective maintenance plans based on data-driven insights.
Productivity enhancement and acquired knowledge
- Reduce task burden in favor of thought and creativity
- Enhance the speed and accuracy of subsurface assessments, investment assessments, and financial analyses.
- Maximize use of acquired knowledge and technical expertise through digital technology
- Apply AI technologies to the vast amount of data and expertise accumulated within the Company, to enhance our decision-making process
Please refer to the ‘DX Activities’ section of our corporate website for detailed information on our DX efforts.
Acquiring competitive advantages through strategic research and development
By integrating INPEX’s technologies and expertise with technologies developed through research and development (R&D), we aim to create competitive advantages of our existing businesses and to develop new businesses.
- Aim to secure a competitive advantage in each of our pillars for growth by taking a strategic approach in focusing on R&D initiatives and enhancing the GHG reduction technologies of CCS and hydrogen.
- Effectively drive R&D by fostering collaboration between INPEX’s technical resources and third parties. Develop an innovation center as a core facility for open innovations.
