Capital increase in Senboku Natural Gas Power Generation Co., Ltd. and equity participation by Qalhat LNG
November 13. 2009
Osaka Gas has decided to increase the capital of Senboku Natural Gas Power Generation Co., Ltd., its wholly-owned subsidiary responsible for operation of the Senboku Power Plant, through issue of new stocks in December 2009, in order to consolidate the managerial foundation of the power generation company. It has been also decided that part of the new shares will be acquired by Qalhat LNG S.A.O.C in Oman. All the administrative arrangements have been completed today. Qalhat LNG currently supplies LNG to Osaka Gas Group through a long-term contract.
The equity acquisition by Qalhat LNG follows Osaka Gas’ share acquisition in Qalhat through its subsidiary, Osaka Gas Australia, in May 2006. Through their mutual ownership in the respective companies, it is intended that the two companies will strengthen their business partnership, thereby promoting the friendly ties between Oman and Japan.
Osaka Gas will continue its work on economical and stable supply of LNG in order to pursue activities in diversified energy businesses to achieve its target of developing into a global energy and environmental services group.
Overview of companies
The equity acquisition by Qalhat LNG follows Osaka Gas’ share acquisition in Qalhat through its subsidiary, Osaka Gas Australia, in May 2006. Through their mutual ownership in the respective companies, it is intended that the two companies will strengthen their business partnership, thereby promoting the friendly ties between Oman and Japan.
Osaka Gas will continue its work on economical and stable supply of LNG in order to pursue activities in diversified energy businesses to achieve its target of developing into a global energy and environmental services group.
Overview of companies
| Senboku Natural Gas Power Generation Co., Ltd. | ||
| Headquarters: | Osaka, Japan | |
| Establishment: | November 2008 | |
| Capital: |  4 billion ( 2 billion paid-in capital,  2 billion capital reserve) |
|
| Shareholders (*): | Osaka Gas Co., Ltd. (90%), Qalhat LNG S.A.O.C (10%) | |
| (*) After implementation of capital increase. | ||
| Qalhat LNG S.A.O.C | |
| Headquarters: | Muscat, Sultanate of Oman |
| Shareholders: | Government of Oman (46.84%), Oman LNG (36.8%), Union Fenosa Gas (Spain, 7.36%), Itochu Corporation (3%), Mitsubishi Corporation (3%), Osaka Gas Australia Pty Ltd. (wholly-owned subsidiary of Osaka Gas, 3%) |
| Osaka Gas Co., Ltd |
| Osaka Gas is one of the largest gas utilities in Japan with its headquarters in Osaka, having the customer base of 6.7 million in the Kansai region. In FY2009, the company purchased the total of 7.41 million tons of LNG from the following countries (numbers in million tons): Australia (1.37), Brunei (0.76), Indonesia (2.62), Malaysia (0.8), Oman (0.86), Qatar (0.24), others (0.76). |