ENEOS Decides on Withdrawal from Coal Business

摘要

ENEOS Holdings has made a decision to withdraw from coal business. Responding to growing concerns about environmental impacts of coal and as it is a small impact for the group’s financial results, the group has decided to sell all assets of the coal section. In addition to these upstream assets, the group is selling coal to the domestic power companies, but it also intends to withdraw from the domestic coal sales if acquiring agreement from contract partners. President Katsuyuki Ota of ENEOS Holdings commented at a financial result briefing for FY2020 on May 12, “We’ve decided on withdrawal from coal business. We’ve decided to sell upstream assets.” The group is operating metallurgical coal projects in Canada and is involved in the Bulga coal mine development project in Australia. ENEOS has already started negotiation on the asset sales and the sale price “will be billions of yen,” commented President Ota.