Japanese utility Osaka Gas expects its gas sales volumes to rise 0.5% year/year during the 12 months ending March 31, 2022, the company said in its medium-term management plan 2023 published on March 10.   

Osaka Gas expects to sell 6.99bn m³ of gas in 2021-2022, versus 6.95bn m³ in 2020-2021. Sales to households are likely to be 1.7bn m³, down from 1.8 bn m³, while supply to the commercial and industrial sectors is forecast to rise by 3.2% yr/yr to 5.3bn m³.  

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Osaka Gas said it expects to generate a profit of yen 70.5bn ($640mn) in 2021-2022, down 1.4% yr/yr while net sales are likely to be yen 1.4 trillion, up 5.6% yr/yr.   

Commenting on its business plans the company said that it sees Asia as a high growth market and aims to accelerate the business in the region through renewable energy and energy infrastructure development projects. The company also wants to expand in the LNG terminal, gas supply, energy services, and gas-fired power generation segments.   

The company wants to develop joint carbon capture and storage and hydrogen projects in countries such as Australia and the US. It is looking to establish virtual power plants in the UK, focus on carbon-neutral LNG, and examine the potential for introducing green ammonia.   

Osaka Gas is one of Japan’s leading utilities and supplies gas and power to the Kansai region. It is also involved in upstream, midstream, and downstream energy projects throughout the world, including LNG terminals, pipelines, and independent power projects.