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Upstream and Trading Business

Business Overview and Characteristics

In upstream businesses, we are contributing to growth and stabilization of overall our group earnings, in addition to acquiring useful expertise in LNG procurement. While steadily proceeding with projects in which our participation is already decided, we aim to create an earnings platform and improve our business potential chiefly by acquiring new projects in production or development. With regard to trading operations, we plan to expand sales while responding to customer needs, by leveraging our diversified procurement portfolio and broadening the range of project partners and methods, ensuring optimization through use of swaps and contract reclassification. In Australia, while the Gorgon LNG Project (in which we hold 1.25% of the rights) that launched production in 2016 is steadily contributing to earnings, we expect further earnings contribution from the Ichthys LNG Project (in which we hold 1.2% of the rights), which launched production in 2018. In North America, we acquired interest in the East Texas Shale Gas Project, currently in production, in 2018. We will proceed with new developments in this project and expect further stable long-term production in the future.

Gorgon LNG Project

Gorgon LNG Project

Ichthys LNG Project

Ichthys LNG Project

East Texas Shale Gas Project

East Texas Shale Gas Project