July 23, 2014

Japan Oil, Gas and Metals National Corporation
INPEX CORPORATIONJX Nippon Oil & Energy Corporation
Japan Petroleum Exploration Co., Ltd.
Cosmo Oil Co., Ltd.
NIPPON STEEL & SUMIKIN ENGINEERING CO., LTD.
Chiyoda Corporation

JAPAN-GTL Consortium Awarded 2014 ENAA Engineering Commendation Awardby Engineering Advancement Association of Japan
Japan Oil, Gas and Metals National Corporation (JOGMEC), INPEX CORPORATION, JX Nippon
Oil & Energy Corporation, Japan Petroleum Exploration Co., Ltd., Cosmo Oil Co., Ltd., NIPPONSTEEL & SUMIKIN ENGINEERING CO., LTD. and Chiyoda Corporation, which comprise theJAPAN-GTL (Gas to Liquids) Consortium, jointly announced today that the consortium was awarded
the sixth annual 2014 ENAA Engineering Commendation Award by the Engineering Advancement
Association of Japan (ENAA) for its JAPAN-GTL Process, a groundbreaking technology developed inJapan that for the first time allows natural gas containing carbon dioxide to be directly used forconversion into liquid fuels.

The JAPAN-GTL Process involves three key procedures—Syngas Production, FT Synthesis andUpgrading—to convert natural gas into environmentally-friendly liquid hydrocarbons free of sulfur or
aromatic components. The consortium expects the technology will be applied commercially, and leadto securing alternative fuel resources and contributing to energy security in Japan.

The consortium finalized the JAPAN-GTL Process through a project involving a series ofdemonstration tests conducted by JOGMEC in cooperation with the above mentioned six private
sector companies since fiscal 2006. The project involved more than 10,000 hours of demonstration
operations, achieving more than 3,000 hours of stable, continuous operations at a GTL demonstration
plant in Niigata City from April 2009 to December 2011. Moving forward, the consortium willproceed with studies on the commercialization of the process.

GTL is a technology to produce liquid hydrocarbons such as naphtha, kerosene and gas oil fromnatural gas through chemical reactions.

ENAA was established in 1978 by a consortium of companies in the engineering field to promote theadvancement of engineering capabilities and technological development, with the endorsement of theMinistry of International Trade and Industry (MITI) and cooperation of the public and private sectors,
as well as academia. MITI is the precursor of the Ministry of Economy, Trade and Industry (METI).
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[Outline of JAPAN-GTL Process]
GTL is short for Gas-To-Liquids. GTL is a technology that uses natural gas as the raw material andproduces petroleum products such as naphtha, diesel oil and kerosene through chemical reactions.
JAPAN-GTL features in utilizing carbon dioxide as raw material, so that it is a groundbreaking
technology that would for the first time ever allow for natural gas containing carbon dioxide to be
used directly for conversion.

Main process facilities:
Syngas Producing Section

FT (Fischer-Tropsch) synthesis Section

Upgrading (hydrotreating) Section

Media Inquiries:

Japan Oil, Gas and Metals National CorporationINPEX CORPORATION

Public Relation Division

Public Relations Group

Tel: 03-6758-8425

Tel: 03-5572-0233

JX Nippon Oil & Energy Corporation

Japan Petroleum Exploration Co., Ltd.

Public Relations Dept.

Media & Investor Relations Dept.

Tel: 03-6275-5046

Tel: 03-6268-7110

Cosmo Oil Co., Ltd.

NIPPON

CorporateCommunication

Dept.

PublicSTEEL

ENGINEERING CO., LTD.

Relations OfficePublic Relations Section

Tel: 03-3798-3101

Tel: 03-6665-2366

Chiyoda Corporation
IR & Public Relations Section
Tel: 045-225-7734

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