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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Hokkaido Electric Power Company, Incorporated    9509   JP3850200001

HOKKAIDO ELECTRIC POWER COMPANY, INCORPORATED

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Hokkaido Electric Power Incorporated : GLOBAL LNG-Asian LNG prices rise on delay in Gorgon restart

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07/31/2020 | 11:47am EDT

* Gorogon's Train 2 shutdown extended to September

* Spot cargo offers continue in Asia-Pacific

* Japan, Pakistan buy cargoes

LONDON, July 31 (Reuters) - Asian spot liquefied natural gas (LNG) prices rose to a four-month high this week, supported by an extended shutdown of one of the production lines at Australia's Gorgon plant following maintenance works.

The average LNG price for September delivery into northeast Asia <LNG-AS> was estimated at around $2.70 per million British thermal units (mmBtu), $0.25 per mmBtu above last week's level.

The maintenance on Train 2 of the giant Gorgon project began on May 23 and a restart was initially planned on July 11 but has been delayed until early September.

Gorgon is carrying out the repair work after a routine inspection of the train's propane heat exchangers during planned maintenance found weld quality issues, a spokesman for Chevron that operates the plant said this week.

The rise in prices to this week's level has taken place for the first time since late March, Reuters price assessment data showed. But the price is still seasonally weaker than in previous years and around 36% below its level a year ago.

Gorgon LNG Trains 1 and 3 continue producing LNG and there were offers of spot cargoes from other Asia-Pacific plants this week, industry sources said.

One of those came from the Darwin plant, with Australian energy firm Santos offering one August and one September loading cargoes.

Demand continues to be largely sluggish, but some buying took place this week.

In Japan, Hokkaido Electric has bought a cargo for September delivery at around $2.70 per mmBtu, two industry sources said.

Pakistan LNG Ltd said this week it had secured a record low price for an LNG cargo, with SOCAR Trading offering a price of about $2.20 per mmBtu in a spot buy tender by the Pakistani company for a late August cargo.

Chilean consortium GNL Chile is looking to buy five cargoes for delivery in 2021. (Reporting by Ekaterina Kravtsova Editing by Gareth Jones)


Stocks mentioned in the article
ChangeLast1st jan.
HOKKAIDO ELECTRIC POWER COMPANY, INCORPORATED 1.98% 464 End-of-day quote.-12.45%
SANTOS LIMITED 1.97% 5.18 End-of-day quote.-36.67%
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Financials
Sales 2021 691 B 6 606 M 6 606 M
Net income 2021 20 675 M 198 M 198 M
Net Debt 2021 - - -
P/E ratio 2021 4,86x
Yield 2021 2,16%
Capitalization 95 353 M 903 M 911 M
Capi. / Sales 2021 0,14x
Capi. / Sales 2022 0,14x
Nbr of Employees 10 736
Free-Float 92,0%
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Technical analysis trends HOKKAIDO ELECTRIC POWER COMPANY, INCORPORATED
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 4
Average target price 550,00 JPY
Last Close Price 464,00 JPY
Spread / Highest target 94,0%
Spread / Average Target 18,5%
Spread / Lowest Target -11,6%
EPS Revisions
Managers
NameTitle
Yutaka Fujii President & Representative Director
Akihiko Mayumi Chairman
Ichiro Sakai Director & Executive Vice President
Kazuhiko Ujiie Representative Director & Executive Vice President
Gen Uozumi Director & Managing Executive Officer
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