Who Are the Core Customers of Inpex Company?

Tokyo Gas and Osaka Gas and other utility companies are the primary Inpex core customers, purchasing long-term LNG volumes that underpin ~40-50% of INPEX Corporation's stabilized revenue streams in fiscal 2025. These buyers matter because they require reliable, contracted supply to run power and heating for Japan's economy.

Energy traders, international wholesalers, and regional governments in the Middle East and Southeast Asia buy spot and contract volumes via joint ventures and production-sharing contracts; they represent major buyers of INPEX LNG and oil and help balance ~30% of export sales in 2025.

INPEX serves institutions and businesses-utility companies sourcing from Inpex, petrochemical manufacturers buying feedstock, refineries, and industrial users-rather than retail consumers, making it a B2B and sovereign-focused operator.

Decarbonization Partners-multinationals and government agencies securing blue hydrogen and ammonia-emerged as a fast-growing segment in fiscal 2025/2026; INPEX targets 100,000 tons/year hydrogen/ammonia by 2030, and long-term contracts with these partners are driving new revenue streams and investment priorities. Read more on customer choice in this piece: Why Customers Choose Inpex Company

Japan is the primary market for INPEX core customers, taking roughly ~10% of its LNG imports from the Ichthys LNG project in 2025 and anchoring long-term LNG contract customers and utility companies sourcing from INPEX.

Southeast Asian markets, notably Indonesia, show rising demand where the Abadi LNG project targets industrial users of INPEX natural gas; Australia remains host to Ichthys, a major source of LNG volumes for regional and global buyers.

INPEX is strongest in upstream equity production and LNG sales, with Ichthys contributing material LNG volumes and Abu Dhabi upstream concessions supplying stable crude to refineries and international oil companies collaborating with INPEX; this mix supports a significant share of consolidated revenue in 2025.

Demand is growing fastest among power generation companies purchasing from INPEX and petrochemical manufacturers buying INPEX feedstock as countries shift from coal to gas; Abadi and other LNG projects aim to capture rising industrial and utility demand in 2025-2026.

INPEX targets hydrogen producers, CCUS project developers, and offshore-wind partners to reach new commercial buyers and regional governments, while leveraging relationships with Inpex LNG buyers and utility companies sourcing from Inpex.

The company keeps focus on subsurface engineering and complex project delivery that major buyers of Inpex LNG and oil rely on, integrating carbon capture into gas plants by 2026 to retain petrochemical manufacturers buying Inpex feedstock and refineries that are core customers of Inpex.

Long-term LNG contract customers of Inpex and energy traders see higher switching costs as INPEX bundles CCUS credits, hydrogen offtake options, and legacy supply, boosting repeat demand and renewals among commercial buyers of Inpex oil and gas.

Disciplined capital allocation-1 trillion yen to growth areas through 2030 and a maintained dividend payout ratio near 40 percent-positions INPEX as an anchor supplier for Japan while scaling the hydrogen value chain, which most materially expands Inpex customer segments and attracts institutional investors interested in Inpex customer base.