JXTG : to participate in Natural Gas-Fired Thermal Power Generation Project in Ohio

May 8, 2019

JXTG Nippon Oil & Energy Corporation

JXTG to participate in Natural Gas-Fired Thermal Power Generation Project in Ohio

We, JXTG Nippon Oil & Energy Corporation ("JXTG") (President: Katsuyuki Ota), are pleased to announce that ENEOS Power USA LLC ('ENEOS"), a newly formed affiliate of JXTG Group, has acquired a 15% membership interest in South Field Energy Partners LLC ("SFEP") from AP South Field Holdings, a 100% indirect subsidiary of Advanced Power. SFEP is the 100% indirect owner of South Field Energy LLC ("SFE"). SFE owns an approximately 1,182 MW natural gas-fired combined cycle power plant located in Columbiana County, Ohio (the "Project") currently under construction with commercial operation scheduled in mid-2021. Upon achievement of commercial operation, SFE will sell capacity and energy into PJM, the largest regional transmission organization within the United States.

The Project was developed by Advanced Power, a leading developer, owner and manager of power generation facilities in North America and Europe.

SFEP represents JXTG's first participation in the international gas-fired power generation business. In its capacity as the manager of ENEOS and through participation in the management of the Project, JXTG's goal is to acquire knowledge of an advanced deregulated electricity market in the United States and apply it for the benefit of its domestic electricity business in Japan. JXTG will seek to expand its investment in the international power generation business.

＜Project Site＞

Project Site

Pittsburgh

Ohio

Gas-Fired Thermal Power Generation Project>

Construction Site		Ohio, U.S.A.
			(Approx. 50km northwest of Pittsburgh)
Facility Capacity		Approx. 1182MW
Type of Generation		Natural gas-fired combined cycle power generation
			(Gas Turbine : GE)
Fuel/Supply		Natural Gas/ Utica/ Marcellus
Market		PJM (Largest wholesale electricity market in U.S.A.)
Commercial Operation	Mid 2021
			ENEOS Power USA
			AP South Field Holdings LLC
			RS Global Capital Investment LLC
			(Joint Venture of DBJ and Showa Shell)
Investors		Kyushu Electric Power
	Shikoku Electric Power
			Bechtel
			NH Amundi
			PIA Asset Management
Location		Delaware, U.S.A.
Formation		27th March, 2019
Ownership		JX Holdings (U.S.A.)
	(a 100% subsidiary of JXTG Holdings. Inc)