00:00You've been investing in upstream gas assets in the United States.
00:05Do you expect more investment into that market?
00:10We're currently investing mainly in shale gas projects in East Texas.
00:16Our priority for the next mid-term period is to ensure solid revenue from these existing investments.
00:22As for whether we will further increase our asset holdings, we will assess that carefully based on conditions.
00:28While ensuring solid returns from our upstream operations, we also want to invest in mid- and downstream businesses to build out our portfolio.
00:37We've already made investments in mid-stream, downstream areas such as marketing and trading, and we intend to raise its profitability.
00:45For downstream, we're also considering opportunities in things like LNG liquefaction plants, export terminals, and the energy services sector.
00:54I know that you've been reviewing buying potentially from the LNG project in Alaska.
01:01Where are you at in that evaluation?
01:03Alaska has the advantage of being geographically close to Japan.
01:13An LNG can be shipped without passing through geopolitical choke points, which is a major benefit.
01:19However, pricing and other terms are still unclear, so further examination will be necessary.
01:27When can we expect an announcement?
01:32We only just signed a letter of intent expressing our interest.
01:37The pricing and other terms will eventually be presented by the other party.
01:41Since the next step depends on the other party's timing, it's difficult for me to say at this point when that will be.
01:48Tokyo Gas maintains that Russian imports of gas are important for the energy supply of Japan,
01:55and yet we continue to see international pressure to stop these purchases.
02:00Will you need to reassess?
02:01We don't see any urgent need at this point to review our position in the short term.
02:11Sakhalin gas continues to contribute to Japan's stable supply,
02:15so any final decision will be made in consultation with the Japanese government.
02:21What sort of conversations are you having with the government on future purchases of Russian gas?
02:26And also, perhaps, can you tell us a little bit more about your diversification strategy as well?
02:33We're not fully aware of any details to the discussions taking place within the Japanese government,
02:39but we understand that the government recognizes Sakhalin gas as an important energy source
02:44that contributes to Japan's stable supply.
02:48We have long pursued three pillars of diversification strategy in procurement.
02:52Diversifying countries and projects, diversifying contract types by combining long and short-term deals
02:59and using different indices, and diversifying supply routes.
03:03Traditionally, our flows have been centered on the Asia-Pacific region,
03:08but we're now also looking to the Atlantic side to broaden our supply channels.
03:12We're not here because of the Pacific we are trying to capture, you guys.
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