Establishment of "Fukushima Gas Power Co.,Ltd."

Japan Petroleum Exploration Co., Ltd. (hereafter "JAPEX") announces establishment of "Fukushima Gas Power Co., Ltd." today, jointly invested by MITSUI & CO., LTD (hereafter "Mitsui").

For purpose of achieving the social mission such as stable supply of electricity and economic revitalization of Fukushima area, JAPEX has been promoting study, and has been proceeding with the application based on the Environmental Impact Assessment Law. Today, this project is succeeded by Fukushima Gas Power Co., Ltd, and Fukushima Gas Power Co., Ltd. will continue to promote examination study.

Outline of New Company

• Company Name: Fukushima Gas Power Co., Ltd.
• Head Office: 1-7-12, Marunouchi, Chiyoda-ku, Tokyo
• Date of Establishment: April 23, 2015
• President: Shoichi Ishii (Executive Vice President of JAPEX)
  • Directors will be appointed from each company.
• Capital: 234.5Million Yen (Capital117.25Million Yen, Capital Reserve117.25Million Yen)
• Shareholders: JAPEX50.7%, Mitsui49.3%
• Description of Business: Study and preparation of the natural gas power plant project in Soma Port

Outline of Power Plant (Planned)

• Tentative Name: Soma Port Natural Gas Power Plant
• Planned Site: Shinchi-Town, Fukushima Prefecture (Soma Port)
  • Adjacent area of JAPEX's Soma LNG Terminal, which is currently under construction.
• Generation Method: Combined Cycle (Gas Turbine and Steam Power)
• Generation Capacity: 1.2Million kW Class (0.6Million kW Class×2)
• Fuel: Natural Gas
• Commencement of Commercial Operation: 1^st Generator  January 2020 (Planned), 2^nd Generator  April 2020 (Planned)