The Government of Indonesia has approved the revised Plan of Development for the Abadi LNG project. INPEX (operator, 65%) and Shell (35%) will develop Abadi via an offshore production facility and an 9.5 mmpta onshore LNG plant, at an estimated cost of US$20 billion. The revised Plan of Development also details amendments to the Masela PSC to improve the commercial viability of the project, including a 20-year extension, a further 7 years to compensate previous delays, and enhanced fiscal terms. INPEX aims to take FID within three years, and we expect first gas in 2028. The project is crucial for Indonesia's LNG supply outlook, but still faces a number of development risks and challenges.