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are not simply reiterations of historical facts. These statements are presented to inform stakeholders of the views of Mitsuis management but should not be relied on solely in making investment and
other decisions. You should be aware that a number of important risk factors could lead to outcomes that differ materially from those presented in such forward-looking statements. These include,
but are not limited to, () change in economic conditions that may lead to unforeseen developments in markets for products handled by Mitsui, () fluctuations in currency exchange rates that may
cause
unexpected deterioration in the value of transactions, () adverse political developments that may create unavoidable delays or postponement of transactions and projects, () change in
Mitsuis ability to fulfill its commitments, and () significant changes in the competitive
laws,
regulations, or policies in any of the countries where Mitsui conducts its operations that may affect
environment. In the course of its operations, Mitsui adopts measures to control these and other types of risks, but this does not constitute a guarantee that such measures will be effective.
Agenda
Agenda
Board of Corporate
Auditors
Board of Directors
Administrative
Divisions
Corporate Management
Committee
Mineral &
Metal
Resources
(3 Regional
Business Units)
Machinery &
Infrastructure
Chemicals
Innovation
& Cross
Function
Americas
EMEA
AP
Energy
Lifestyle
Basic
Chemicals
Energy
Business unit
Food
Resources
IT
Americas
Performance
Chemicals
Energy
Business Unit
Food
Products &
Services
Financial &
New Business
EMEA
Consumer
Service
Transportation
Logistics
AP
Mineral &
Metal
Resources
Infrastructure
Projects
Motor
Vehicles &
Construction
Machinery
Marine &
Aerospace
Gross Asset
Number of
Employees
Investment
Agenda
Activities
Oil & Natural Gas Exploration,
Development, Production
Coal
Nuclear Fuel
LNG
Environmental Energy
& New Energy
Poland Shale
Thai/L10/43, L11/43
Libya Block
113, 201
Qatar LNG
Abu Dhabi LNG
Marcellus Shale
Oman LNG
Equatorial Guinea LNG
Tangguh LNG
Oman Block
3, 4, 9, 27/NOGJV
Keta
Tuna
Kestrel
Moranbah North
South Walker Creek/Poitrel
German Creek/Lake Lindsay
Merangin 1
NWS LNG
Mozambique Area1
Enfield/Vincent/ Laverda
Meridian CBM
Dawson/Surat Basin
Wanaea/Cossack
Kupe
Coal
Natural GasLNG
Oil
Sakhalin-
Gulf of Thailand
Thai/Block 10, 11, 12, 13, 10A, 11A, G4/48
Thai/Block G4/43
Thai/Block 8/32&9A
Cambodia Block A
Vietnam/Block B
Tui
Drayton
Yemen Block 7
West Papuwa 1&3
Bengalla
Casino/Henry/Netherby
Vietnam/Block52/97
Thai/Block 14A, 15A, 16A
Thai/Block B12/27
Natural
Gas
LNG
Seismic
Development
Processing
Drilling
Valuation
FEED
Production
FID
Development
Oil
*1 Proved undeveloped
*2 Partly in development
Production
*3 Partly in production
Agenda
Fossil Fuel
81%
(Mtoe)
Renewable Energy
17.0 billion ton
4%
BiomassHydro
11%
3%
Nuclear
7%
24%
Coal
23%
Gas
27%
Oil
27%
21%
33%
Fossil Fuel
74%
10
Million Ton/year
500
(Million Ton/year)
241 457
+216
Demand
(High Case)
241 MT/year
Demand
(Base
Case)
400
19 36
U.K.
300
Supply from the firm projects
and the FID projects
63
U.S.A
10 20
France
12 66
China
18 22
Spain
200
37 43
Korea
12 19
Taiwan
11 12
Latin America
78 102
Japan
1 39
South East Asia
100
13 51
India
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
1915
Asia
Europe
Americas
-4
65112
+47
153323
+170
Source: WoodMackenzie
Widening geographical imbalance of natural gas demand-supply leads to increase in LNG demand
11
Vision
Key Strategies
Upstream
12
Environmental Biz.
New Energy
Part of energy
business portfolio to
complement fossil
fuel related
business
Pursue emission
trading
Pursue participation
in biomass fuel
business
Pursue new
technology for
commercialization
of small to mediumsized gas fields
(CNG, NGH, etc.)
E&P Business
Business description
Developing a global portfolio by obtaining oil & gas upstream assets through core companies:
Southeast Asia (MOECO), Oceania (MEPAU), Middle East (MEPME), North America
(MEPUSA,MEPTX), Mozambique (MEPMOZ)
Investing in good quality assets, project management & implementation as a non-operator
MEPPOL
Poland Shale Gas
Marcellus Shale
Libya/MOECO
Eagle Ford Shale
Egypt
Oman
Ghana
MEPTX
Cambodia
Thai
Vietnam
MEPME
MOECO
MEPGK
Mozambique
MEPMOZ
Enfield
MEPAU
Vincent
Meridian Tui/Kupe
Casino/Henry/Netherby
13
Oil
Natural Gas
MEPUSA
E&P Flow
Exploration
Bid
Seismic
Processing
Development
Drilling
Valuation
FEED
FID Development
Production
Production
2011
The number of wells drilled includes near-by exploration in producing or already found on-shore/off-shore oil and gas fields,
as wells as some exploration wells of partly appraisal nature.
The exploration cost per barrel includes dry hole cost.
14
LNG Business
Business description
Since Mitsui participated in the Abu Dhabi LNG project in the 1970s, Mitsui has entered into the whole
spectrum of the LNG value chain -production, transportation and marketing-. Mitsui has invested in 8 LNG
projects, all of them are in production with efficient management and stable operation.
Discovery of a world-class natural gas reserve off the coast of Mozambique.
Studies in progress for development as a new LNG project.
Qatar Gas 1
7.5, 9.6 MT/year
Montoir
Sakhalin-II
Qatar Gas 3
1.5, 7.8 MT/year
Abu Dhabi
Cameron
45 Million bbl/year
(FY 2011)
4 MT/year
(Planned)
Equatorial Guinea
8.5, 3.4 MT/year
Oman
Tangguh
Mozambique
20, 10 MT/year
(Planned)
Oil Production
NWS
LNG Projects
8.3, 16 MT/year
15
Blocks in
Australia
New Zealand
Thailand
Cambodia
Vietnam
Indonesia
Oman
UAE
Qatar
Russia
Libya
Mozambique
Poland
USA (Shale)
Canada, etc
Liquefaction
Sakhalin-II/Russia
ADGAS/Abu-Dabi
Qatargas1&3/Qatar
Oman & Qalhat LNG
/Oman
NWS/Australia
Equatorial Guinea
Tangguh/Indonesia
Transportation
LNG
Receiving
Terminal
Manzanillo/Mexico
Qatargas/1 vessel
Montoir/France
Rasgas
(Capacity Usage)
/9 vessels
Snohvit/2 vessels
CPC/4 vessels
Angola LNG
/4 vessels
Kyushu Electric Power
/1 vessel
Spot LNG fleet
/4 vessels
(total 25 vessels)
Distribution
Malhas PL/Brazil
Blue Stream
/Russia
Cabiunas/Brazil
Mitsui Gas (LDC)/
Brazil
Power Generation
&
Gas Chemical
17
Coal Business
Business Domain
Coal mine development and production in Australia with mining majors (Anglo, BHP, Rio Tinto)
Feasibility study to develop the undeveloped mines
Lancewood, Nebo West,
Bee Creek, etc. (20%)
Production capacity
Undeveloped
3.5 MT/year
Poitrel (20%)
3.0 MT/year
Undeveloped
Kestrel (20%)
4.0 MT/year
Bengalla (10%)
7.0 MT/year
4.0 MT/year
DBCT/Hay Point
6.0 MT/year
Gladstone
4.0 MT/year
Dawson (49%)
12.7 MT/year
Undeveloped
Drayton (3.83%)
5.5 MT/year
Undeveloped
Collingwood (49%)
Undeveloped
Ownaview (49%)
Undeveloped
Taroom (49%)
Undeveloped
Woori (49%)
Undeveloped
Abbot Point
Newcastle
18
Coal Business
Key strategies to achieve the vision
Production
Image
2013
2017
Theodore South
2015
2017
Drayton South
2013
2015
5 MT/ year
Collingwood
2013
2015
Expansion Plans
Expansion (planned)
production capacity
Kestrel
2013
Bengalla
2012
19
Maximize corporate value of Mitsui Oil Co. and KPI (domestic refinery, sales)
Mitsui Oil Co.
Crude Oil
Petroleum Products
(Domestic)
Westport Petroleum
20
Norway
Korea
China
Algeria
Egypt
Nigeria
Sakhalin II LNG
Japan
MMGS
Gas Sales in
U.S. Domestic
Market
Taiwan
ADGAS LNG
Oman LNG
Qatargas1 LNG
Qatargas3 LNG
Cameron LNG
India
Trinidad & Tobago
Tangguh LNG
Equatorial
Guinea LNG
North West Shelf LNG
Mitsuis participating
LNG Projects
Mitsui LNG spot
trading
Term
Mozambique LNG
SPOT
21
Trillion yen
3.0
2.5
Gross asset
15.0%
ROA
(Excluding settlement
of Gulf of Mexico oil spill)
Others
Oil traiding
10.0%
2.0
Coal
1.5
5.0%
1.0
LNG
0.5
E&P
0.0
0.0%
FYE 3/10 FYE 3/11 FYE 3/12
FYE 3/17
FYE 3/20
Increase in Assets
Investment in shale projects
Investment in MOECO offshore Thailand project
Investment in coal mines by MCH
(Production of existing coal mines, expansion of Kestrel)
Increase in current assets due to increase in oil price and
trading volume
Decrease in Assets
Depreciation
Sakhalin II capital redemption
Divestiture of listed securities
Increase in Assets
Investment in shale projects
Investment in MOECO offshore Thailand project
Increase in current asset due to increase in oil price
and trading volume
Decrease in Assets
Depreciation
Reclassification of Mitsui Marubeni Liquefied Gas
Co., Ltd. from a subsidiary to an associated
company.
Sakhalin II capital redemption
23
Agenda
24
Marcellus
Eagle Ford
Obtained lease (Eagle Ford Shale + Pearsall Shale)
Obtained lease (Pearsall Shale only)
Project area
MMGS
Pursue own
gas marketing
Eagle Ford
Cameron Base
Mitsuis usage rights of liquefaction facility: 4 MT/year
Production Start: 2016/2017
25
Block:
Water Depth:
Equity holders:
36.5%
20.0%
ENH (NOC)
15.0%
Bharat (India)
10.0%
Videocon (India)
10.0%
Area Map
8.5%
Drilled 9 deep water wells since 2010 and found gas in 7 wells.
26
27
Agenda
28
END
29