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

December 16, 2019
Company Name: Japan Petroleum Exploration Co., Ltd. (JAPEX)
Representative:

Masahiro Fujita, Representative Director and President

Security Code:

1662 (First Section of Tokyo Stock Exchange)

Inquiries:

Media and Investor Relations Dept.

TEL.:+81-3-6268-7110

Start of Power Generation at FGP Fukushima Natural Gas Power Plant Unit No.1

Japan Petroleum Exploration Co., Ltd. (JAPEX) announced that Fukushima Natural Gas Power Plant(hereinafter "the power plant") started to generate electric power by the Unit No.1, as the first parallel
operation in commissioning today. The power plant is under construction by Fukushima Gas Power Co., Ltd.
(hereinafter “FGP”), which is a project company 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 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 its business partners decided on the commercialization inOctober 2016, and the construction of the plant started in October 2017. By proceeding as planned, thecommissioning of the Unit No.1 has been conducted from late November, and the plant achieved the firstparallel operation today.
Aiming the commercial operation of the plant since the spring of 2020, further examinations andverifications of Unit No.1 will be proceeded. Also, the construction of Unit No.2 of the plant will continue,
aiming the commercial operation in the summer of 2020.
Besides, as second phase construction, the No.2 LNG tank with 230,000 KL capacity and additional
regasification equipment is under construction by JAPEX entrusted from FGP in Soma LNG Terminal. The
commissioning of the second phase is also proceeding sequentially, and additional regasification equipment
and started to send regasified LNG to the plant as the fuel of power generation. The commercial operation ofadditional regasification equipment will be spring of 2020, and of No.2 LNG tank in the summer of 2020.
Please refer to the appendix for the outline of the plant and the second construction phase in Soma LNGTerminal, 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
1/3

development in the surrounding area, FGP and the business partners including JAPEX will be proceeding
the 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.
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
NameFukushima 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

Unit No.1: Spring of 2020

(Planned)

Unit No.2: Summer of 2020

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: Spring of 2020 (Planned)

3. Corporate Profile of Fukushima Gas Power Co,. Ltd. (As of December 16, 2019)
Name

Fukushima Gas Power Co., Ltd. (Abbreviation: FGP)

Head Office

Sapia Tower, 1-7-12, Chiyoda-ku, Tokyo 100-0005 JapanFoundation

April 23, 2015

Representative

Yoshitaka 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

Japan Petroleum Exploration Co., Ltd.

33%

(Business Partners)

Mitsui & Co., Ltd.

29%

/ Investment Ratio

Osaka Gas Co., Ltd.

20%

Mitsubishi Gas Chemical Co., Inc.

9%

Hokkaido Electric Power Co., Inc.

9%

Main Business

Promoting the Natural Gas-Fired Electric Power Generation Business

Local Office

The Plant Construction Office3/3