Overseas Energy Supply and Services Businesses and Development of New Projects

「In the overseas energy segment, operating profit increased ¥13.6 billion, or 25.4%, from the previous fiscal year to ¥67.6 billion, owing to higher profit from the US upstream business and the US Freeport liquefaction facility (LNG), among other factors.」

「Revenue increased ¥10.4 billion from the previous year to ¥69.5 billion, owing to higher revenue from the US upstream business and the US Freeport liquefaction facility (LNG), among other factors. Segment profit increased ¥9.6 billion to ¥45.1 billion, owing to higher profit from the US Freeport liquefaction facility (LNG) and the US upstream business, among other factors.」

「Revenue increased ¥9.9 billion from the previous year to ¥59.1 billion, owing to higher revenue from the US and Australian upstream businesses, among other factors. Segment profit increased ¥4.0 billion to ¥35.4 billion, owing to higher profit from the US and Australian upstream businesses, among other factors.」

「Revenue fell ¥10.6 billion from the same quarter of the previous year to ¥79.7 billion, owing to lower revenue from the US and Australian upstream businesses, among other factors. Despite lower profit from the US and Australian upstream businesses, segment profit was broadly in line with the same quarter of the previous year, owing mainly to the reversal of the impact of the shutdown of the Freeport LNG Project's liquefaction facility in the previous fiscal year.」

「Revenue fell ¥10.2 billion from the same quarter of the previous year to ¥49.1 billion, owing to lower revenue from the US and Australian upstream businesses, among other factors. Segment profit fell ¥5.7 billion to ¥31.4 billion, owing to lower profit from the US and Australian upstream businesses, among other factors.」

「In North America's renewable energy business, the Company entered into an agreement with Oriden LLC, a US renewable energy generation developer, in May 2022 for the joint development of solar power plants in the US. In August of the same year, it entered into an agreement with Summit Ridge Energy, LLC, with which it jointly operates a distributed solar power business in Maine, US, for the joint operation of that business in Illinois, US.」

「Revenue increased ¥34.4 billion from the same quarter of the previous year to ¥90.3 billion, owing to higher revenue from the US and Australian upstream businesses, among other factors. Segment profit increased ¥17.2 billion to ¥54.5 billion, owing to higher profit from the US and Australian upstream businesses, among other factors.」

「Revenue increased ¥25.2 billion from the same quarter of the previous year to ¥59.3 billion, owing to higher revenue from the US and Australian upstream businesses, among other factors. Segment profit increased ¥17.5 billion to ¥37.2 billion, owing to higher profit from the US and Australian upstream businesses, among other factors.」

「Revenue from the overseas energy segment increased ¥36.4 billion, or 82.4%, from the previous fiscal year to ¥80.7 billion, owing to higher revenue from the US upstream business and the Freeport LNG Project, among other factors.」

「Revenue increased ¥23.6 billion from the same quarter of the previous year to ¥55.9 billion, owing to higher revenue from the US upstream business and the Freeport LNG Project, among other factors. Segment profit increased ¥27.6 billion to ¥37.3 billion, owing to higher profit from the Freeport LNG Project and the US upstream business, among other factors.」

「Revenue increased ¥14.8 billion from the same quarter of the previous year to ¥34.1 billion, owing to higher revenue from the Freeport LNG Project and the US upstream business, among other factors. Segment profit increased ¥19.5 billion to ¥19.6 billion, owing to higher profit from the Freeport LNG Project and the US upstream business, among other factors.」

「In August 2020, the Company acquired a 15% interest in the company operating the Three Rivers natural gas-fired power plant in Illinois, US, with generating capacity of 1.25 million kW and scheduled to commence commercial operations in May 2023, and joined the power generation business. In March of the current year, Sojitz Osaka Gas Energy Company Ltd., a Vietnamese subsidiary jointly invested in by the Company and Sojitz Corporation with a 49% ownership interest, entered into a natural gas supply agreement with a Vietnamese subsidiary of Acecook Co., Ltd. to convert the fuel used at 2 food factories from coal to natural gas.」

「Revenue increased ¥6.1 billion from the same quarter of the previous year to ¥49.4 billion, owing mainly to higher revenue from the US upstream business. Segment profit increased ¥10.0 billion to ¥13.6 billion, owing mainly to higher profit from the Freeport LNG Project and the US upstream business.」

「Revenue increased ¥4.5 billion from the same quarter of the previous year to ¥30.0 billion, owing mainly to higher revenue from the US upstream business. Segment profit fell ¥1.4 billion to ¥2.5 billion, despite higher profit from the Freeport Project and the US upstream business, among other factors, due to the impact of fair value measurement of derivatives, among other factors.」

「Revenue increased ¥3.3 billion from the same quarter of the previous year to ¥14.5 billion, mainly reflecting the impact of the US upstream business acquired in the previous fiscal year. Segment profit was broadly in line with the same quarter of the previous year, despite the negative impact of lower US interest rates, owing to the start of commercial operations at the Freeport Project and the impact of the US upstream business acquired in the previous fiscal year, among other factors.」

「In November 2019, the Company acquired all shares of Sabine Oil & Gas Corporation, which operates a shale gas production and development business in Texas, US. The company holds approximately 1,000k㎡ of acreage in eastern Texas and currently produces approximately 1.7 million tonnes per year of gas on an LNG-equivalent basis from approximately 1,200 wells. The Company has positioned Sabine Oil & Gas Corporation as the core platform for its US energy production and development business, and is integrating the operations and assets of its US subsidiary related to that business into the Sabine group to promote efficient and sustainable operations.」

「Business combination date 30 November 2019 Voting rights acquired on the business combination date: 100% Acquisition cost ¥62,880 million」

「Revenue rose ¥7.2 billion from the same quarter of the previous year to ¥25.4 billion, owing to higher revenue from the LNG carrier business and contributions from the US natural gas-fired power generation company acquired in the previous year, among other factors.」

「Through its US subsidiary, the Company agreed with Sabine Oil and Gas Holdings, the owner, on 29 July 2019 to acquire 100% of the shares of Sabine Oil and Gas Corporation, which operates a shale gas development business in the US. The acquisition is intended to expand the Group's business and improve its earnings capacity. The scheduled acquisition date is October 2019, and the scheduled purchase price is US$610 million (approximately ¥67.1 billion).」

「In June 2018, the Company acquired an approximately 30% interest in an operating shale gas production and development business in Texas, US, and joined the development business. It currently produces approximately 300,000 tonnes of gas per year on an LNG-equivalent basis, corresponding to the Company's interest, at a steady pace. In August 2018, it established PT OSAKA GAS INDONESIA in Indonesia, and in October of the same year launched a joint natural gas marketing business with PT Pertagas Niaga, the gas sales company of the PT Pertamina group, Indonesia's state-owned oil and gas company. In December 2018, it acquired a 49.5% interest in the operating company of the Towantic natural gas-fired power project in Connecticut, US, with generating capacity of 785,000 kW, and joined the power generation business, among other initiatives to expand its US IPP (wholesale power) business.」

「Revenue increased by ¥11.5 billion year on year to ¥27.0 billion, mainly due to increased LNG sales from the Gorgon Project and other factors. Segment profit was ¥7.7 billion, compared with a loss of ¥1.9 billion in the same quarter of the previous year, mainly due to increased LNG sales from the Gorgon Project and other factors.」

「Revenue increased by ¥7.5 billion year on year to ¥18.2 billion, mainly due to increased LNG sales from the Gorgon Project and other factors. Segment profit increased by ¥3.0 billion year on year to ¥4.8 billion, mainly due to increased LNG sales from the Gorgon Project and other factors.」

「Revenue increased by ¥6.9 billion year on year to ¥11.3 billion, mainly due to increased LNG sales from the Gorgon Project. Segment profit increased by ¥4.1 billion year on year to ¥4.8 billion, mainly due to increased LNG sales from the Gorgon Project.」

「In March 2017, LNG production began on all 3 liquefaction trains and is now operational. The project has annual LNG production capacity of 15 million tonnes.」

「In February 2017, the St. Charles natural gas-fired power plant in Maryland, United States, was completed and began commercial operations. The plant has a generating capacity of 725,000 kW, and the Group holds a 25% interest in the project company.」

「Overseas, the Company will continue to steadily pursue the operation of gas, electricity and energy services businesses, as well as the development of new projects.」