Note: The following is an English translation of the Japanese-language original.

May 7, 2020
Company Name:
Representative:
Security Code:Inquiries:
TEL.:

Japan Petroleum Exploration Co., Ltd. (JAPEX)
Masahiro Fujita, Representative Director and President
1662 (First Section of Tokyo Stock Exchange)
Media and Investor Relations Dept.
+81-3-6268-7110

Commercial Operation Commencement of FGP Fukushima Natural Gas Power Plant No.1 Unit

Japan Petroleum Exploration Co., Ltd. (JAPEX) announced that Fukushima Natural Gas Power Plant(hereinafter "the power plant") commenced commercial operation of the No.1 unit on April 30, 2020. The power
plant has been under construction by Fukushima Gas Power Co., Ltd. (hereinafter “FGP”), which is a projectcompany to promote the project of natural gas-fired power generation at Soma Port in Shinchi Town,
Fukushima Prefecture (hereinafter “the project”) with the business partners including JAPEX.
This power plant uses regasified LNG (Liquefied Natural Gas) for fuel, given a lower environmental burden,
and has a generating capacity of 1.18 million kW by two-generation units of GTCC (Gas Turbine CombinedCycle) that achieves higher efficiency. FGP and the business partners decided on the commercialization of theproject and construction of the power plant as the project basis in October 2016. By proceeding with theconstruction of the plants from October 2017, the No.1 unit achieved the first parallel operation in December
2019. Since completion of all independent inspection, which is defined by the Electricity Business Act, theNo.1 unit of the power plant commenced the commercial operation on April 30, 2020. Along with thecommercial operation commencement of the power plant, the operation concerning LNG, which is procured
as the generation fuel by each partner, began on the same day. Such operations are the consignment works
for receiving, storage, regasification of LNG, and providing regasified LNG to the power plant, under thecontract with FGP.
The No.2 unit of the power plant is currently under commissioning, aiming the commercial operation in thesummer of 2020. Besides, as second construction phase of Soma LNG terminal by JAPEX entrusted from FGP,
additional regasification equipment commenced the commercial operation on April 30, 2020. Also, the No.2LNG tank with 230,000 kL capacity is under construction, aiming the commercial operation in the summerof 2020.
Please refer to the appendix for the outline of the plant and the second construction phase in Soma LNG
Terminal, as well as the corporate profile of FGP.
For the stable supply of electricity by lower cost and environmental burden, and the contribution of economic
development in the surrounding area, FGP and the business partners including JAPEX will be proceeding
the operation as well as construction work of the power plant with safety management as the first priority,with understanding and cooperation by the local residents and the relevant authorities.

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JAPEX will proceed to conduct the business with the aspiration of stable energy supply and to contributefor the local areas through our activities, aiming for the realization of "Growth to the Integrated Energy
Company Utilizing Oil and Gas E&P and its Supply Basis" as raised in Long-term Vision and Mid-term
Business Plan announced in May 2018.
There will be no impact on the consolidated financial forecasts for the fiscal year ending March 31, 2020.
The impact on consolidated financial forecasts after the fiscal year ending March 31, 2021 will be disclosed
promptly if necessary.

###2/3Appendix
1. Outline of Fukushima Natural Gas Power Plant
Name
Fukushima Natural Gas Power Plant
Site
Soma Port No.4 Warf, Shinchi Town, Fukushima PrefectureArea
10 haMethod
Gas Turbine and Steam Power (Gas Turbine Combined Cycle (GTCC) type)
Capacity
1.18 million kW (two units of 0.59 million kW)
FuelNatural Gas (Regasified LNG)
* Storage and regasification of LNG will be entrusted to JAPEX Soma LNG
Terminal, located adjacent to the plant
Generating Efficiency
Approximately 61% (Based on Lower Heat Generation)
Commercial Operation
No.1 Unit: April 30, 2020No.2 Unit: Summer of 2020 (planned)
2. Outline of the Second Construction Phase in Soma LNG Terminal
No.2 LNG Tank
Storage Capacity: 230,000 kL (Ground Pre-stress Concrete (PC) Type)
Commercial Operation: Summer of 2020 (planned)
Additional
Gas Conducting Capacity: 5 MPa 75t/h × 2
Regasified Equipment
Commercial Operation: April 30, 2020
3. Corporate Profile of Fukushima Gas Power Co,. Ltd. (As of April 30, 2020)
Name
Fukushima Gas Power Co., Ltd. (Abbreviation: FGP)
Head Office
Sapia Tower, 1-7-12, Chiyoda-ku, Tokyo 100-0005 JapanFoundation
April 23, 2015
RepresentativeYoshitaka Ishii, President and Chief Executive Officer(Director and Managing Executive Officer of Japan Petroleum Exploration Co., Ltd.)

Capital Stock

1,074 million yen(Capital Stock: 537 million yen / Capital Reserve: 537 million yen)

Shareholders(Business Partners)/ Investment Ratio

Main Business
Local Office

Japan Petroleum Exploration Co., Ltd.
33%
Mitsui & Co., Ltd.
29%
20%
Osaka Gas Co., Ltd.
Mitsubishi Gas Chemical Co., Inc.
9%
Hokkaido Electric Power Co., Inc.
9%
Promoting the Natural Gas-Fired Electric Power Generation Business
Fukushima Natural Gas Power Plant

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