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 In the Energy Business Group, we develop and invest in oil and gas projects. We also deal in products relating to crude oil, petroleum, liquefied petroleum gas (LPG), liquefied natural gas (LNG), and carbon.
 Rising prices for crude oil and natural gas along with mounting geopolitical risks have brought about major changes within the Group's operating environment. However, the Energy Business Group as an enterprise aspires to make a valuable contribution to society through the provision of stable supplies of energy. These business activities rely on an extensive network developed over many years with users in Japan and overseas, oil- and natural gas-producing nations and major oil companies. Under the business philosophy: "to create an abundant energy society in everything we do - aiming to be a unique and sustainable energy business", the Group engages in daily business activities with an eye on coexisting with the energy society of tomorrow by focusing on securing energy resources and ensuring stable energy supplies while also taking the global environment into consideration in order to further increase corporate value.  Going forward, we will continue to focus on developing the Group's LNG business and E&P business. Higher prices for crude oil and natural gas mean that it has become steadily harder to acquire quality new equity interests. However, even under such conditions, the Group's aim is to make steady progress with existing projects while at the same time seeking to realize earnings as quickly as possible by the actual startup of LNG projects in various stages of development and planning, notably Sakhalin II and the Tangguh and Donggi-Senoro projects in Indonesia. Moreover, we will also try to expand opportunities to participate in new projects by adding unique value through MC's value chain and in other ways. We aim to continue expanding operations through our petroleum, carbon and LPG trading activities as well.
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