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    9531   JP3573000001

TOKYO GAS CO., LTD.

(9531)
  Report
Delayed Japan Exchange  -  09:30 2022-12-01 pm EST
2454.00 JPY   -1.41%
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Tokyo Gas, Kyushu Electric renew deals to buy Russian LNG

08/30/2022 | 06:58am EST

Japanese energy providers Tokyo Gas Co. and Kyushu Electric Power Co. said Tuesday they have renewed their contracts to buy liquefied natural gas from the Sakhalin 2 oil and gas project in Russia.

The decision follows Moscow's establishment of a new operator for the project in the Russian Far East after Western energy firms withdrew their investments following the invasion of Ukraine.

Japan is largely dependent on imports for energy production, and the Sakhalin 2 project accounts for about 9 percent of its LNG imports. The country's major power generation firm Jera Co., a joint venture between Tokyo Electric Power Company Holdings Inc. and Chubu Electric Power Co., renewed its contract Thursday to purchase gas from the project.

The new operator, established on Aug. 5 under a decree by Russian President Vladimir Putin, has offered the same contractual terms to energy companies. Russian state energy firm Gazprom has a controlling stake in it.

Tokyo Gas said contract terms remained the same, while Kyushu Electric Power did not comment on the terms of its agreement dated Aug. 29.

Although U.S. and European oil majors have withdrawn from natural resources projects in the Russian Far East, including the decision by Britain's Shell PLC to relinquish its 27.5 percent share in Sakhalin 2 over Russian aggression, Tokyo views the project as important to its interests.

Major trading houses Mitsui & Co. and Mitsubishi Corp., which held stakes of 12.5 percent and 10 percent, respectively, in the previous operator, are also set to retain their interests with the Japanese government's backing.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
KYUSHU ELECTRIC POWER COMPANY, INCORPORATED 0.28% 704 Delayed Quote.-16.22%
TOKYO ELECTRIC POWER COMPANY HOLDINGS, INC. -1.83% 484 Delayed Quote.68.01%
TOKYO GAS CO., LTD. -1.41% 2454 Delayed Quote.22.50%
All news about TOKYO GAS CO., LTD.
11/18Interest-Rate Outlook Undercuts Tokyo Equities as Japan Inflation Hits 40-Year High
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More news
Financials
Sales 2023 3 185 B 22 854 M 22 854 M
Net income 2023 160 B 1 146 M 1 146 M
Net Debt 2023 1 364 B 9 790 M 9 790 M
P/E ratio 2023 8,84x
Yield 2023 2,57%
Capitalization 1 095 B 7 857 M 7 857 M
EV / Sales 2023 0,77x
EV / Sales 2024 0,72x
Nbr of Employees 16 697
Free-Float 92,9%
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Technical analysis trends TOKYO GAS CO., LTD.
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TrendsNeutralNeutralBullish
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 2 526,00 JPY
Average target price 3 061,67 JPY
Spread / Average Target 21,2%
EPS Revisions
Managers and Directors
Takashi Uchida Secretary, Head-HR, Compliance & Audit
Michiaki Hirose Executive Officer
Kazunori Takami Independent Outside Director
Hitoshi Saito Independent Outside Director
Junko Edahiro Independent Outside Director
Sector and Competitors
1st jan.Capi. (M$)
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