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April 9, 2002
Osaka Gas Co., Ltd.
Osaka Gas announced today its decision of canceling the planned construction of an LNG receiving terminal in Tsuruga City, Fukui Prefecture.
Tsuruga Terminal had been planned as the third LNG receiving facility of Osaka Gas, following Senboku and Himeji. The decision has been made after a careful review of future demand of LNG. It has been concluded that the capacity of the existing facilities of Senboku and Himeji is sufficient to meet the future rise in demand up to around 2030. The primary reasons for the decision are, firstly, the expected slower growth of gas demand and, secondly, increased LNG handling capabilities after the termination of the exclusive LNG handling agreement with Kansai Electric in 2005 for its LNG amounting to 2 million tons per annum, which is almost a quarter of the current total LNG volume received at Senboku.
The original plan of the terminal was launched in 1992 and it called for a construction of LNG receiving facilities with capacity of handling 6 million tons per year for a start-up in 2010. In 1999, Osaka Gas announced the postponement of the commissioning of the planned terminal till 2020.