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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Tokyo Gas Co.,Ltd.    9531   JP3573000001

TOKYO GAS CO.,LTD.

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Philippine energy chief says four LNG projects still on track despite virus delays

08/27/2020 | 03:22am EST
FILE PHOTO: Philippine Department of Energy (DOE) Secretary Alfonso Cusi gestures during a Reuters interview at the DOE headquarters in Taguig city, Metro Manila

Four LNG import terminal projects in the Philippines are currently in various stages of approvals and financial closures, still on track despite "minor delays" caused by the coronavirus restrictions, the country's energy chief said on Thursday.

The Southeast Asian country will rely on imported liquefied natural gas to feed some of its power plants running on supply from its Malampaya gas field in western Philippine waters, expected to dry up within the next few years, and new units.

Energy Secretary Alfonso Cusi told Reuters in a text message that he was closely monitoring the activities of four proponents of LNG import and storage facilities to ensure that they meet commissioning targets.

"These projects are moving in varying stages of permitting from other government agencies, and/or financial closing prior to filing an application for the permit to construct," he said.

The projects of First Gen Corp, U.S.-based Excelerate Energy LP, Batangas Clean Energy Inc, and Australia-listed Energy World Corp were still in the pipeline.

First Gen has had talks with Tokyo Gas Co Ltd to build a LNG terminal in Batangas province, near its four 2,100-megawatt gas-fired units.

Excelerate plans a floating LNG terminal, while Batangas Clean Energy of billionaire Lucio Tan has proposed a 1,100-MW power plant alongside a LNG import terminal.

Energy World aims to put online next year a 650-MW LNG-fuelled power plant in Quezon province, near its LNG receiving plant.

However, projects proposed by Phoenix Petroleum Philippines Inc, which had partnership talks with CNOOC Gas and Power of China, and SMC Global Power Holdings Corp, a unit of San Miguel Corp, were excluded from the government's list.

Plans for Phoenix's $2 billion LNG hub has been put on hold, while San Miguel's project has yet to get government approval.

San Miguel, which operates a 1,200-MW gas-fuelled unit, is partnering with Atlantic Gulf & Pacific for its LNG project.

By Enrico Dela Cruz


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CNOOC LIMITED -3.90% 7.4 End-of-day quote.-42.90%
ENERGY WORLD CORPORATION LTD 1.41% 0.072 End-of-day quote.-7.69%
FIRST GEN CORPORATION -1.07% 27.8 End-of-day quote.15.11%
LT GROUP, INC. -0.15% 13.5 End-of-day quote.12.69%
P-H-O-E-N-I-X PETROLEUM PHILIPPINES, INC. -0.62% 12.78 End-of-day quote.7.04%
SAN MIGUEL CORPORATION -1.48% 132.9 End-of-day quote.-18.96%
TOKYO GAS CO.,LTD. 0.00% 2251 End-of-day quote.-15.10%
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Financials
Sales 2021 1 760 B 16 886 M 16 886 M
Net income 2021 58 316 M 560 M 560 M
Net Debt 2021 805 B 7 726 M 7 726 M
P/E ratio 2021 17,0x
Yield 2021 2,67%
Capitalization 993 B 9 527 M 9 527 M
EV / Sales 2021 1,02x
EV / Sales 2022 1,00x
Nbr of Employees 16 591
Free-Float 94,5%
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Technical analysis trends TOKYO GAS CO.,LTD.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 2 610,00 JPY
Last Close Price 2 251,00 JPY
Spread / Highest target 33,3%
Spread / Average Target 15,9%
Spread / Lowest Target 0,84%
EPS Revisions
Managers
NameTitle
Takashi Uchida President & Representative Director
Michiaki Hirose Chairman
Isao Nakajima Chief Financial Officer, Head-Finance & Personnel
Shin Yamagami Managing Executive Officer & GM-Technology
Fumio Murazeki Director & Managing Executive Officer
Sector and Competitors
1st jan.Capitalization (M$)
TOKYO GAS CO.,LTD.-15.10%9 527
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CHINA GAS HOLDINGS LIMITED-1.88%19 268
ATMOS ENERGY CORPORATION-13.71%12 245
APA GROUP-8.29%8 929
PETRONAS GAS4.69%8 479