Full-scale operation of the Gorgon production and liquefaction facilities in Australia
First written in FY2017-Q1. 5 of 18 entries say "Advanced", first in FY2018-Q1. Latest entry: FY2024.
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- FY2024AchievedAnnual report
「We transferred all shares in TGAU1 to MidOcean Energy Holdings Pty Ltd (hereinafter, "MidOcean"). After the transfer of all shares in TGAU1 to MidOcean, TGI and TGI F&E transferred the upstream interests and shares in the liquefaction business held by the 2 companies relating to the Ichthys project to INPEX Ichthys Pty Ltd, INPEX Browse E&P Pty Ltd, and INPEX Holdings Australia Pty Ltd.」
The transfer of the 5 Australian LNG project companies covering 4 projects was completed on 28 March 2024, with the Ichthys-related assets transferred under a transaction structure that included their re-transfer to INPEX. - FY2024-Q3Change in the method of transferring the Australian LNG projectsAnnual report
「Ichthys and Ichthys F&E, which will subsequently become subsidiaries held by MidOcean, will transfer the interests and other assets held by each company to INPEX. The Company has agreed with MidOcean that MidOcean will be liquidated after Ichthys and Ichthys F&E transfer their interests and other assets to INPEX.」
Regarding the transfer of the 5 Australian LNG project companies, including Gorgon, the interests and other assets of Ichthys and Ichthys F&E will be re-transferred to INPEX after their transfer to MidOcean, followed by the liquidation of MidOcean. - FY2024-Q2RestatedAnnual report
「The transfer of 5 subsidiaries of the Company's Australian subsidiary, Tokyo Gas Australia Pty Ltd, covering 4 projects, to MidOcean Energy Holdings Pty Ltd, a subsidiary of U.S.-based EIG Global Energy Partners, LLC (the "Transfer"), was disclosed as additional information in the securities report for the previous consolidated fiscal year. The closing was initially scheduled for March 2023, but has been postponed because discussions with the relevant parties are continuing, and the timing is now undetermined.」
The transfer of the 5 Australian LNG subsidiaries covering 4 projects to MidOcean remains postponed from the scheduled March 2023 closing, with the closing date undetermined as discussions with the relevant parties continue. - FY2023SoftenedAnnual report
「The planned closing date for the share transfer was initially March 2023, but it has been postponed because discussions with the relevant parties are continuing, and the timing is now undetermined.」
The planned March 2023 closing of the transfer of the 5 companies covering 4 Australian LNG projects was postponed, and the closing date is now undetermined. - FY2023-Q3RestatedAnnual report
「The transfer of 5 subsidiaries of the Company's Australian subsidiary, Tokyo Gas Australia Pty Ltd, covering 4 projects, to MidOcean Energy Holdings Pty Ltd, a subsidiary of U.S.-based EIG Global Energy Partners, LLC, which was disclosed as a material subsequent event in the second quarter, remains in progress toward completion.」
The transfer of 5 Australian LNG project companies covering 4 projects had not been completed, and the Company continued to work toward the sale. - FY2023-Q2ReframedAnnual report
「Since 2003, we have participated in 5 Australian LNG projects and expanded our LNG upstream interests. However, after considering the optimal composition of our asset portfolio, we determined that it was appropriate to transfer all shares in the following consolidated subsidiaries to MidOcean.」
The Company agreed to transfer all shares in 5 companies covering 4 projects, including Australia's Gorgon project, changing the positioning of its Australian upstream project holdings and earnings contribution as part of a review of its asset portfolio. The transfer was scheduled for March 2023 and had not been completed at that time. - FY2022Increase in profit from Australian upstream projectsAnnual report
「② Gross profit increased because the slide time lag (*) improved in the gas business.」
The Company explained that profit from Australian upstream projects increased in the Overseas business, in addition to the consolidation of the North American upstream business. - FY2022-Q3AdvancedAnnual report
「Revenue increased by ¥30,662 million year on year to ¥62,430 million, up 96.5%, mainly because TG Natural Resources LLC became a consolidated subsidiary in the second quarter of the previous fiscal year. Operating expenses increased by ¥15,463 million, or 53.3%, year on year. Equity-method investment gain improved by ¥4,180 million year on year to ¥3,729 million. As a result, segment profit increased by ¥19,380 million, or 831.8%, year on year to ¥21,709 million.」
Against the backdrop of TG Natural Resources LLC becoming a consolidated subsidiary, Overseas segment profit increased 831.8% year on year to ¥21,709 million, marking continued recovery from the previous quarter. - FY2022-Q2Recovery in Overseas segment profitAnnual report
「Revenue increased by ¥18,636 million year on year to ¥37,800 million, up 97.2%, mainly because TG Natural Resources LLC became a consolidated subsidiary in the same quarter of the previous year. Operating expenses increased by ¥12,200 million, or 73.1%, year on year. Equity-method investment gain improved by ¥2,349 million year on year to ¥1,604 million. As a result, segment profit increased by ¥8,786 million, or 509.9%, year on year to ¥10,509 million.」
Against the backdrop of TG Natural Resources LLC becoming a consolidated subsidiary, revenue, equity-method investment gain and segment profit in the Overseas segment improved significantly year on year. The segment showed a recovery this quarter, following the previously reported decline in Overseas segment profit. - FY2021Continued decline in the Overseas segment's earnings contributionAnnual report
「Revenue in the Overseas segment increased by ¥2.0 billion, or 4.4%, year on year to ¥45.9 billion, mainly due to the consolidation of a North American upstream business. However, segment profit decreased by ¥9.4 billion, or 70.6%, year on year to ¥3.8 billion, due to lower profit from the Australian upstream business following the decline in crude oil prices and lower profit from equity-method affiliates.」
While revenue increased following the consolidation of the North American upstream business, profit in the Overseas segment continued to decline due to lower crude oil prices and other factors. - FY2020Declining earnings contribution from overseas projectsAnnual report
「Revenue in the Overseas segment decreased by ¥7.0 billion, or 13.6%, year on year to ¥43.9 billion, mainly due to lower sales volumes resulting from major repairs at the Australian Pluto project and decreased LNG sales from the Australian Gorgon project.」
Although Gorgon has remained in full-scale operation, lower LNG sales were a factor behind the decline in revenue in the Overseas segment during the current fiscal year. - FY2019AdvancedAnnual report
「Revenue in the Overseas segment increased by ¥9.4 billion, or 22.5%, year on year to ¥50.9 billion, mainly due to increased LNG sales from the Australian Gorgon project and increased sales volumes and unit prices at the Australian Pluto project.」
The disclosure states that increased LNG sales from Gorgon contributed to growth in revenue and profit in the Overseas segment. - FY2018-Q3AdvancedAnnual report
「TOKYO GAS GORGON PTY LTD, located in Western Australia, Australia, acquired machinery and equipment, including production and liquefaction facilities, for ¥10,000 million.」
Regarding Gorgon, the disclosure describes specific progress in capital investment, namely the additional acquisition of production and liquefaction facilities for ¥10,000 million. - FY2018-Q2AdvancedAnnual report
「TOKYO GAS GORGON PTY LTD, located in Western Australia, Australia, acquired machinery and equipment, including production and liquefaction facilities, for ¥9,935 million.」
Regarding Gorgon, the disclosure describes specific progress in capital investment, namely the additional acquisition of production and liquefaction facilities for ¥9,935 million. - FY2018-Q1AdvancedAnnual report
「TOKYO GAS GORGON PTY LTD, located in Western Australia, Australia, acquired machinery and equipment, including production and liquefaction facilities, for ¥9,952 million.」
Regarding Gorgon, the disclosure describes specific progress in capital investment, namely the additional acquisition of production and liquefaction facilities for ¥9,952 million during the first quarter. - FY2017-Q3RestatedAnnual report
「TOKYO GAS GORGON PTY LTD, located in Western Australia, Australia, acquired machinery and equipment, including production and liquefaction facilities, for ¥39,672 million and commenced full-scale operations.」
The disclosure again describes the acquisition of Gorgon production and liquefaction facilities and the commencement of full-scale operations, but does not indicate a transition to a new phase. - FY2017-Q2RestatedAnnual report
「TOKYO GAS GORGON PTY LTD, located in Western Australia, Australia, acquired machinery and equipment, including production and liquefaction facilities, for ¥38,794 million and commenced full-scale operations.」
The disclosure again describes the acquisition of Gorgon production and liquefaction facilities and the commencement of full-scale operations, but does not indicate a transition to a new phase. - FY2017-Q1First statedAnnual report
「TOKYO GAS GORGON PTY LTD, located in Western Australia, Australia, acquired machinery and equipment, including production and liquefaction facilities, for ¥39,665 million and commenced full-scale operations.」
The disclosure describes progress in terms of facilities, namely the acquisition of production and liquefaction facilities for ¥39,665 million and the commencement of full-scale operations.