{"id":744,"date":"2025-12-02T08:41:16","date_gmt":"2025-12-01T23:41:16","guid":{"rendered":"https:\/\/www.kabutec.jp\/blog\/?p=744"},"modified":"2025-12-02T08:41:16","modified_gmt":"2025-12-01T23:41:16","slug":"%e5%b7%9d%e5%b4%8e%e6%b1%bd%e8%88%b9%ef%bc%889107%ef%bc%89%ef%bc%9a%e3%82%b3%e3%83%b3%e3%83%86%e3%83%8a%e4%be%9d%e5%ad%98%e3%81%ae%e9%ab%98%e9%85%8d%e5%bd%93%e6%b5%b7%e9%81%8b%e6%a0%aa%e3%80%81","status":"publish","type":"post","link":"https:\/\/www.kabutec.jp\/blog\/?p=744","title":{"rendered":"\u5ddd\u5d0e\u6c7d\u8239\uff089107\uff09\uff1a\u30b3\u30f3\u30c6\u30ca\u4f9d\u5b58\u306e\u9ad8\u914d\u5f53\u6d77\u904b\u682a\u3001\u6e1b\u76ca\u5c40\u9762\u3067\u771f\u4fa1\u554f\u308f\u308c\u308b"},"content":{"rendered":"\n<p><strong>\u5ddd\u5d0e\u6c7d\u8239\u306f\u65e5\u672c\u6d77\u904b\u5927\u624b3\u793e\u4e2d\u3001\u30b3\u30f3\u30c6\u30ca\u8239\u4e8b\u696d\uff08ONE\u7d4c\u7531\uff09\u3078\u306e\u4f9d\u5b58\u5ea6\u304c\u6700\u3082\u9ad8\u304f\u3001\u7d4c\u5e38\u5229\u76ca\u306e\u7d0467%\u3092ONE\u304b\u3089\u306e\u6301\u5206\u6cd5\u5229\u76ca\u304c\u5360\u3081\u308b\u3002<\/strong> 2025\u5e743\u6708\u671f\u306f\u7d05\u6d77\u5371\u6a5f\u306b\u3088\u308b\u904b\u8cc3\u4e0a\u6607\u3067\u7d14\u5229\u76ca3,053\u5104\u5186\uff08\u524d\u5e74\u6bd43\u500d\uff09\u3068\u904e\u53bb2\u756a\u76ee\u306e\u597d\u696d\u7e3e\u3092\u8a18\u9332\u3057\u305f\u304c\u30012026\u5e743\u6708\u671f\u306f\u5e02\u6cc1\u6b63\u5e38\u5316\u306b\u3088\u308a\u7d14\u5229\u76ca<strong>66%\u6e1b<\/strong>\u306e1,050\u5104\u5186\u4e88\u60f3\u3078\u6025\u6e1b\u901f\u3059\u308b\u3002\u81ea\u5df1\u8cc7\u672c\u6bd4\u738775%\u3001PBR 0.79\u500d\u3001\u914d\u5f53\u5229\u56de\u308a**5.7%**\u3068\u8ca1\u52d9\u30fb\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u9762\u3067\u306e\u9b45\u529b\u306f\u5065\u5728\u3060\u304c\u3001\u30b3\u30f3\u30c6\u30ca\u5e02\u6cc1\u306e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u3068\u5730\u653f\u5b66\u30ea\u30b9\u30af\u3078\u306e\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u304c\u6295\u8cc7\u5224\u65ad\u306e\u6838\u5fc3\u3068\u306a\u308b\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 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Network Express\uff09\u3092\u901a\u3058\u305f\u30b3\u30f3\u30c6\u30ca\u8239\u4e8b\u696d\u306e\u53ce\u76ca\u30a4\u30f3\u30d1\u30af\u30c8\u3067\u3042\u308b\u30022017\u5e74\u306b\u65e5\u672c\u90f5\u8239\uff0838%\uff09\u30fb\u5546\u8239\u4e09\u4e95\uff0831%\uff09\u30fb\u5ddd\u5d0e\u6c7d\u8239\uff08<strong>31%<\/strong>\uff09\u306e3\u793e\u304c\u7d71\u5408\u3057\u3066\u8a2d\u7acb\u3055\u308c\u305fONE\u306f\u3001\u4e16\u754c\u7b2c6\u4f4d\u306e\u30b3\u30f3\u30c6\u30ca\u8239\u793e\u306b\u6210\u9577\u30022024\u5e74\u5ea6\u306b\u306fONE\u304b\u3089\u306e\u6301\u5206\u6cd5\u6295\u8cc7\u5229\u76ca<strong>2,012\u5104\u5186<\/strong>\u304c\u5ddd\u5d0e\u6c7d\u8239\u306e\u7d4c\u5e38\u5229\u76ca3,080\u5104\u5186\u306e**\u7d0465%**\u3092\u5360\u3081\u305f\u3002\u7af6\u5408\u306e\u65e5\u672c\u90f5\u8239\uff0856%\uff09\u3001\u5546\u8239\u4e09\u4e95\uff0852%\uff09\u3068\u6bd4\u8f03\u3057\u3066\u3082\u5ddd\u5d0e\u6c7d\u8239\u306e\u30b3\u30f3\u30c6\u30ca\u4f9d\u5b58\u5ea6\u306f\u7a81\u51fa\u3057\u3066\u9ad8\u3044\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th>\u30bb\u30b0\u30e1\u30f3\u30c8<\/th><th>\u58f2\u4e0a\u9ad8\uff082024\u5e74\u5ea6\uff09<\/th><th>\u69cb\u6210\u6bd4<\/th><th>\u4e3b\u8981\u4e8b\u696d<\/th><\/tr><\/thead><tbody><tr><td>\u88fd\u54c1\u7269\u6d41<\/td><td>6,128\u5104\u5186<\/td><td>58.5%<\/td><td>\u30b3\u30f3\u30c6\u30ca\uff08ONE\uff09\u3001\u81ea\u52d5\u8eca\u8239\u3001\u7269\u6d41<\/td><\/tr><tr><td>\u30c9\u30e9\u30a4\u30d0\u30eb\u30af<\/td><td>3,223\u5104\u5186<\/td><td>30.8%<\/td><td>\u9244\u9271\u77f3\u30fb\u77f3\u70ad\u30fb\u7a40\u7269\u8f38\u9001<\/td><\/tr><tr><td>\u30a8\u30cd\u30eb\u30ae\u30fc\u8cc7\u6e90<\/td><td>1,019\u5104\u5186<\/td><td>9.7%<\/td><td>LNG\u8239\u3001\u30bf\u30f3\u30ab\u30fc\u3001FPSO<\/td><\/tr><tr><td>\u305d\u306e\u4ed6<\/td><td>108\u5104\u5186<\/td><td>1.0%<\/td><td>\u8239\u8236\u7ba1\u7406\u3001\u4e0d\u52d5\u7523\u7b49<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">\u8ca1\u52d9\u5206\u6790\uff1a\u904e\u53bb\u6700\u9ad8\u6c34\u6e96\u306e\u8ca1\u52d9\u5065\u5168\u6027\u3068\u7a4d\u6975\u7684\u682a\u4e3b\u9084\u5143<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">\u696d\u7e3e\u63a8\u79fb\u30682026\u5e743\u6708\u671f\u898b\u901a\u3057<\/h3>\n\n\n\n<p>\u5ddd\u5d0e\u6c7d\u8239\u306e\u696d\u7e3e\u306f\u6d77\u904b\u5e02\u6cc1\u306b\u9023\u52d5\u3057\u3066\u5927\u304d\u304f\u5909\u52d5\u3059\u308b\u30022022-2023\u5e74\u306e\u30b3\u30ed\u30ca\u7279\u9700\u671f\u306b\u306f\u7d4c\u5e38\u5229\u76ca\u304c<strong>6,500-6,900\u5104\u5186<\/strong>\u307e\u3067\u6025\u62e1\u5927\u3057\u3001\u305d\u306e\u5f8c2024\u5e743\u6708\u671f\u306b1,327\u5104\u5186\u3078\u6025\u6e1b\u3057\u305f\u30022025\u5e743\u6708\u671f\u306f\u7d05\u6d77\u5371\u6a5f\u306b\u3088\u308b\u559c\u671b\u5cf0\u8fc2\u56de\u3067\u8239\u8179\u9700\u7d66\u304c\u903c\u8feb\u3057\u3001\u7d4c\u5e38\u5229\u76ca<strong>3,080\u5104\u5186<\/strong>\uff08\u524d\u5e74\u6bd4132%\u5897\uff09\u3001\u7d14\u5229\u76ca<strong>3,053\u5104\u5186<\/strong>\uff08\u540c199%\u5897\uff09\u3068\u518d\u3073\u6025\u56de\u5fa9\u3057\u305f\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th>\u6c7a\u7b97\u671f<\/th><th>\u58f2\u4e0a\u9ad8<\/th><th>\u7d4c\u5e38\u5229\u76ca<\/th><th>\u7d14\u5229\u76ca<\/th><\/tr><\/thead><tbody><tr><td>2023\u5e743\u6708\u671f<\/td><td>9,426\u5104\u5186<\/td><td>6,908\u5104\u5186<\/td><td>6,949\u5104\u5186<\/td><\/tr><tr><td>2024\u5e743\u6708\u671f<\/td><td>9,579\u5104\u5186<\/td><td>1,327\u5104\u5186<\/td><td>1,019\u5104\u5186<\/td><\/tr><tr><td>2025\u5e743\u6708\u671f<\/td><td><strong>1\u5146479\u5104\u5186<\/strong><\/td><td><strong>3,080\u5104\u5186<\/strong><\/td><td><strong>3,053\u5104\u5186<\/strong><\/td><\/tr><tr><td>2026\u5e743\u6708\u671f\uff08\u4e88\uff09<\/td><td>9,840\u5104\u5186<\/td><td>1,000\u5104\u5186<\/td><td><strong>1,050\u5104\u5186\uff08\u25b266%\uff09<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>2026\u5e743\u6708\u671f\u306f\u30b3\u30f3\u30c6\u30ca\u904b\u8cc3\u306e\u6b63\u5e38\u5316\u3068\u30c8\u30e9\u30f3\u30d7\u95a2\u7a0e\u653f\u7b56\u306e\u5f71\u97ff\u3092\u7e54\u308a\u8fbc\u307f\u3001<strong>\u5927\u5e45\u6e1b\u76ca<\/strong>\u3092\u4e88\u60f3\u3002ONE\u306e\u7a0e\u5f15\u5f8c\u5229\u76ca\u308242\u5104\u30c9\u30eb\u21922.5-11\u5104\u30c9\u30eb\uff08\u95a2\u7a0e\u5f71\u97ff\u5ea6\u5408\u3044\u306b\u3088\u308a\u5e45\u3042\u308a\uff09\u3078\u6025\u6e1b\u3059\u308b\u898b\u901a\u3057\u3067\u3001\u5ddd\u5d0e\u6c7d\u8239\u3078\u306e\u6301\u5206\u6cd5\u5229\u76ca\u8ca2\u732e\u306f<strong>370\u5104\u5186\u7a0b\u5ea6<\/strong>\u307e\u3067\u7e2e\u5c0f\u304c\u898b\u8fbc\u307e\u308c\u308b\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u3068\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<\/h3>\n\n\n\n<p>\u8ca1\u52d9\u4f53\u8cea\u306f\u5287\u7684\u306b\u6539\u5584\u3057\u305f\u3002\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u306f2021\u5e743\u6708\u671f\u306e**22.4%<strong>\u304b\u30892025\u5e749\u6708\u672b\u306b\u306f<\/strong>75.6%<strong>\u307e\u3067\u4e0a\u6607\u3002\u6709\u5229\u5b50\u8ca0\u50b5\u306f4,708\u5104\u5186\u21922,952\u5104\u5186\u306b\u524a\u6e1b\u3055\u308c\u3001D\/E\u6bd4\u7387\uff08\u6709\u5229\u5b50\u8ca0\u50b5\u6bd4\u7387\uff09\u306f<\/strong>18%**\u3068\u6975\u3081\u3066\u5065\u5168\u306a\u6c34\u6e96\u306b\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u5e74\u9593<strong>1,400-1,500\u5104\u5186<\/strong>\u3092\u5b89\u5b9a\u5275\u51fa\u30022025\u5e743\u6708\u671f\u306f\u55b6\u696dCF 2,731\u5104\u5186\u3001\u6295\u8cc7CF 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class=\"wp-block-heading\">\u914d\u5f53\u653f\u7b56\u3068\u682a\u4e3b\u9084\u5143<\/h3>\n\n\n\n<p>\u5ddd\u5d0e\u6c7d\u8239\u306f\u57fa\u790e\u914d\u5f53<strong>40\u5186<\/strong>\u3092\u8a2d\u5b9a\u3057\u3001\u696d\u7e3e\u306b\u5fdc\u3058\u305f\u8ffd\u52a0\u914d\u5f53\u3092\u5b9f\u65bd\u3059\u308b\u65b9\u91dd\u3092\u63a1\u7528\u30022026\u5e743\u6708\u671f\u306f\u57fa\u790e\u914d\u5f5340\u5186\uff0b\u8ffd\u52a0\u914d\u5f53<strong>80\u5186<\/strong>\uff1d\u5e74\u9593<strong>120\u5186<\/strong>\uff0820\u5186\u5897\u914d\uff09\u3092\u4e88\u60f3\u3002\u682a\u4fa12,086\u5186\u30d9\u30fc\u30b9\u3067\u914d\u5f53\u5229\u56de\u308a\u306f**\u7d045.75%**\u3068\u9ad8\u6c34\u6e96\u3092\u7dad\u6301\u3059\u308b\u3002<\/p>\n\n\n\n<p>\u81ea\u5df1\u682a\u5f0f\u53d6\u5f97\u3082\u7a4d\u6975\u7684\u306b\u5b9f\u65bd\u3057\u3066\u304a\u308a\u30012022-2025\u5e74\u306b\u304b\u3051\u3066\u7d2f\u8a08<strong>\u7d043,100\u5104\u5186<\/strong>\u306e\u81ea\u793e\u682a\u8cb7\u3044\u3092\u5b8c\u4e86\u3002\u4e2d\u671f\u7d4c\u55b6\u8a08\u753b\u671f\u9593\uff08\uff5e2026\u5e74\u5ea6\uff09\u306e\u682a\u4e3b\u9084\u5143\u7dcf\u984d\u306f\u5f53\u521d\u8a08\u753b4,000-5,000\u5104\u5186\u304b\u3089<strong>8,000\u5104\u5186\u4ee5\u4e0a<\/strong>\u3078\u5927\u5e45\u5897\u984d\u3055\u308c\u305f\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u6307\u6a19<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th>\u6307\u6a19<\/th><th>\u6570\u5024<\/th><th>\u8a55\u4fa1<\/th><\/tr><\/thead><tbody><tr><td>PER\uff08\u4e88\u60f3\uff09<\/td><td>12.6\u500d<\/td><td>\u6d77\u904b\u30bb\u30af\u30bf\u30fc\u5e73\u5747\u4e26\u307f<\/td><\/tr><tr><td>PBR<\/td><td><strong>0.79\u500d<\/strong><\/td><td>\u7d14\u8cc7\u7523\u306b\u5bfe\u3057\u3066\u5272\u5b89<\/td><\/tr><tr><td>ROE\uff08\u5b9f\u7e3e\uff09<\/td><td>18.5%<\/td><td>\u9ad8\u53ce\u76ca\u6027<\/td><\/tr><tr><td>\u914d\u5f53\u5229\u56de\u308a\uff08\u4e88\u60f3\uff09<\/td><td><strong>5.75%<\/strong><\/td><td>\u9ad8\u914d\u5f53<\/td><\/tr><tr><td>\u6642\u4fa1\u7dcf\u984d<\/td><td>\u7d041\u51463,400\u5104\u5186<\/td><td>&#8211;<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">\u696d\u754c\u52d5\u5411\uff1a\u904b\u8cc3\u5e02\u6cc1\u306e\u6b63\u5e38\u5316\u3068\u4f9b\u7d66\u904e\u5270\u30ea\u30b9\u30af<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">\u30b3\u30f3\u30c6\u30ca\u8239\u5e02\u6cc1\u306f\u9ad8\u5024\u304b\u3089\u6025\u843d\u3001\u5e95\u5024\u570f\u3092\u6a21\u7d22<\/h3>\n\n\n\n<p>\u30b3\u30f3\u30c6\u30ca\u904b\u8cc3\u6307\u6570\uff08SCFI\uff09\u306f2024\u5e74\u30d4\u30fc\u30af\u304b\u3089<strong>45%\u4e0b\u843d<\/strong>\u3057\u3001\u30b3\u30ed\u30ca\u798d\u30d4\u30fc\u30af\u6bd4\u3067\u306f60%\u4e0b\u843d\u3057\u305f\u3002\u305f\u3060\u3057\u3001\u30d1\u30f3\u30c7\u30df\u30c3\u30af\u524d\u5e73\u5747\u306e<strong>115%\u9ad8<\/strong>\u30012023\u5e74\u5e73\u5747\u306e<strong>2\u500d\u4ee5\u4e0a<\/strong>\u3092\u7dad\u6301\u3057\u3066\u304a\u308a\u3001\u6b74\u53f2\u7684\u306b\u306f\u306a\u304a\u9ad8\u6c34\u6e96\u306b\u3042\u308b\u30022025\u5e74\u7b2c1\u56db\u534a\u671f\u306b\u306f\u4e2d\u56fd\u8f38\u51fa\u30b3\u30f3\u30c6\u30ca\u904b\u8cc3\u6307\u6570\u304c<strong>28%\u4e0b\u843d<\/strong>\uff082009\u5e74\u306e\u6307\u6570\u5275\u8a2d\u4ee5\u6765Q1\u6700\u5927\u306e\u4e0b\u843d\u5e45\uff09\u3059\u308b\u306a\u3069\u3001\u8edf\u5316\u50be\u5411\u304c\u9bae\u660e\u5316\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u30b3\u30f3\u30c6\u30ca\u8239\u306e\u30aa\u30fc\u30c0\u30fc\u30d6\u30c3\u30af\u306f\u904e\u53bb\u6700\u9ad8\u306e<strong>\u7d041,000\u4e07TEU<\/strong>\uff08\u65e2\u5b58\u8239\u8179\u6bd427-30%\uff09\u306b\u9054\u3057\u3066\u304a\u308a\u30012025-2028\u5e74\u306b\u5e74\u5e73\u5747190\u4e07TEU\u306e\u65b0\u9020\u8239\u304c\u7ae3\u5de5\u4e88\u5b9a\u3002\u3053\u306e\u5927\u91cf\u4f9b\u7d66\u304c\u4e2d\u671f\u7684\u306a\u904b\u8cc3\u4e0b\u62bc\u3057\u5727\u529b\u3068\u306a\u308b\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30c9\u30e9\u30a4\u30d0\u30eb\u30af\u3068\u81ea\u52d5\u8eca\u8239\u306e\u5e02\u6cc1\u52d5\u5411<\/h3>\n\n\n\n<p>\u30c9\u30e9\u30a4\u30d0\u30eb\u30af\u5e02\u6cc1\u3092\u793a\u3059\u30d0\u30eb\u30c1\u30c3\u30af\u6d77\u904b\u6307\u6570\uff08BDI\uff09\u306f<strong>2,560\u30dd\u30a4\u30f3\u30c8<\/strong>\uff082025\u5e7411\u6708\u672b\uff09\u3068\u524d\u5e74\u6bd4**+89%**\u306e\u5927\u5e45\u4e0a\u6607\u3002\u4e2d\u56fd\u7d4c\u6e08\u52d5\u5411\u3068\u7d05\u6d77\u8fc2\u56de\u306b\u3088\u308b\u8239\u8179\u7a3c\u50cd\u7387\u4e0a\u6607\u304c\u652f\u63f4\u8981\u56e0\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u81ea\u52d5\u8eca\u8239\uff08PCTC\uff09\u904b\u8cc3\u306f2024\u5e74\u30d4\u30fc\u30af\u6642\u306b1\u65e5<strong>10.5\u4e07\u30c9\u30eb<\/strong>\uff082008\u5e74\u30d4\u30fc\u30af\u6bd42\u500d\u8d85\uff09\u306e\u904e\u53bb\u6700\u9ad8\u3092\u8a18\u9332\u3057\u305f\u304c\u3001\u65b0\u9020\u8239\u5927\u91cf\u7ae3\u5de5\u306b\u3088\u308a2025\u5e74\u306f<strong>5\u4e07\u30c9\u30eb\u4ee5\u4e0b<\/strong>\u3078\u306e\u8edf\u5316\u304c\u4e88\u6e2c\u3055\u308c\u308b\u3002\u30aa\u30fc\u30c0\u30fc\u30d6\u30c3\u30af\u306f\u65e2\u5b58\u8239\u8179\u306e35%\u306b\u9054\u3057\u3066\u304a\u308a\u3001\u4f9b\u7d66\u904e\u5270\u30ea\u30b9\u30af\u304c\u6d6e\u4e0a\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u74b0\u5883\u898f\u5236\u306e\u5f37\u5316\u3068\u8131\u70ad\u7d20\u6295\u8cc7\u8ca0\u62c5<\/h3>\n\n\n\n<p>IMO\uff08\u56fd\u969b\u6d77\u4e8b\u6a5f\u95a2\uff09\u306f2050\u5e74GHG\u6392\u51fa\u30cd\u30c3\u30c8\u30bc\u30ed\u76ee\u6a19\u3092\u63b2\u3052\u3001<strong>EEXI<\/strong>\uff08\u30a8\u30cd\u30eb\u30ae\u30fc\u52b9\u7387\u8a2d\u8a08\u6307\u6a19\uff09\u3068<strong>CII<\/strong>\uff08\u70ad\u7d20\u5f37\u5ea6\u6307\u6a19\uff09\u898f\u5236\u30922023\u5e74\u304b\u3089\u65bd\u884c\u3002EU\u6392\u51fa\u6a29\u53d6\u5f15\u5236\u5ea6\uff08EU-ETS\uff09\u306f2024\u5e74\u306b\u6d77\u904b\u30bb\u30af\u30bf\u30fc\u3078\u9069\u7528\u958b\u59cb\u3055\u308c\u30012025\u5e74\u306f\u524d\u5e74\u6392\u51fa\u91cf\u306e<strong>70%<\/strong>\u30012026\u5e74\u4ee5\u964d\u306f**100%**\u306b\u6392\u51fa\u67a0\u8cfc\u5165\u304c\u7fa9\u52d9\u4ed8\u3051\u3089\u308c\u308b\u3002\u3053\u308c\u3089\u306e\u898f\u5236\u5bfe\u5fdc\u30b3\u30b9\u30c8\u306f\u904b\u8cc3\u30b5\u30fc\u30c1\u30e3\u30fc\u30b8\u3067\u8ee2\u5ac1\u3055\u308c\u308b\u304c\u3001\u8131\u70ad\u7d20\u6295\u8cc7\u306f\u9577\u671f\u7684\u306a\u8a2d\u5099\u6295\u8cc7\u8ca0\u62c5\u3068\u3057\u3066\u7a4d\u307f\u4e0a\u304c\u308b\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">\u6210\u9577\u6226\u7565\uff1a\u8131\u70ad\u7d20\u6295\u8cc7\u3068CCS\u4e8b\u696d\u3067\u65b0\u305f\u306a\u6210\u9577\u8ef8\u3092\u69cb\u7bc9<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">\u4e2d\u671f\u7d4c\u55b6\u8a08\u753b\u300cK Value for our Next Century\u300d<\/h3>\n\n\n\n<p>\u5ddd\u5d0e\u6c7d\u8239\u306f2022-2026\u5e74\u5ea6\u306e5\u5e74\u4e2d\u671f\u7d4c\u55b6\u8a08\u753b\u3067\u3001<strong>\u81ea\u52d5\u8eca\u8239\u30fbLNG\u8239\u30fb\u9244\u92fc\u539f\u6599\u8239<\/strong>\u306e3\u4e8b\u696d\u3092\u6210\u9577\u727d\u5f15\u5f79\u3068\u4f4d\u7f6e\u4ed8\u3051\u3001\u4f4e\u70ad\u7d20\u30fb\u8131\u70ad\u7d20\u793e\u4f1a\u3078\u306e\u8ca2\u732e\u3092\u6210\u9577\u6226\u7565\u306e\u67f1\u306b\u636e\u3048\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u6570\u5024\u76ee\u6a19\u3067\u3042\u308b\u7d4c\u5e38\u5229\u76ca1,400\u5104\u5186\uff082026\u5e74\u5ea6\uff09\u306f2024\u5e74\u5ea6\u5b9f\u7e3e3,080\u5104\u5186\u3067\u5927\u5e45\u306b\u8d85\u904e\u9054\u6210\u3002\u6295\u8cc7\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u5f53\u521d7,400\u5104\u5186\u8a08\u753b\u304b\u3089<strong>6,100\u5104\u5186<\/strong>\u306b\u6e1b\u984d\u4fee\u6b63\uff08\u4e00\u90e82027\u5e74\u5ea6\u4ee5\u964d\u3078\u5f8c\u308d\u5012\u3057\uff09\u3055\u308c\u3001\u682a\u4e3b\u9084\u5143\u306f<strong>8,000\u5104\u5186\u4ee5\u4e0a<\/strong>\u3078\u5897\u984d\u3055\u308c\u305f\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">LNG\u8239\u3068\u8131\u70ad\u7d20\u8239\u8236\u3078\u306e\u7a4d\u6975\u6295\u8cc7<\/h3>\n\n\n\n<p>LNG\u8239\u306f\u73fe\u572846\u96bb\u304b\u30892026\u5e74\u5ea6\u306b<strong>65\u96bb<\/strong>\u3078\u62e1\u5927\u4e88\u5b9a\u3002\u81ea\u52d5\u8eca\u8239\u3067\u306f\u50ad\u8239\u542b\u3081<strong>17\u96bb<\/strong>\u306eLNG\u71c3\u6599\u8239\u6295\u5165\u3092\u6c7a\u5b9a\u3057\u30012025\u5e747\u6708\u304b\u3089\u306f\u30d0\u30a4\u30aaLNG\u71c3\u6599\u306b\u3088\u308b\u904b\u822a\u3082\u958b\u59cb\u3059\u308b\u3002<\/p>\n\n\n\n<p><strong>\u30a2\u30f3\u30e2\u30cb\u30a2\u71c3\u6599\u8239<\/strong>\u306e\u958b\u767a\u3067\u306f\u4f0a\u85e4\u5fe0\u5546\u4e8b\u7b496\u793e\u3068\u306e\u5171\u540c\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u3067<strong>2028\u5e74\u5b9f\u7528\u5316<\/strong>\u3092\u76ee\u6307\u3059\u3002\u98a8\u529b\u63a8\u9032\u88dc\u52a9\u88c5\u7f6e\u300c<strong>Seawing<\/strong>\u300d\uff08\u30d5\u30e9\u30f3\u30b9\u5b50\u4f1a\u793e\u958b\u767a\uff09\u306f\u81ea\u52d5\u30ab\u30a4\u30c8\u30b7\u30b9\u30c6\u30e0\u306b\u3088\u308a<strong>10%\u4ee5\u4e0a\u306e\u71c3\u8cbb\u524a\u6e1b<\/strong>\u3092\u5b9f\u73fe\u3057\u30012\u5e74\u7a0b\u5ea6\u3067\u306e\u8a66\u9a13\u5b8c\u4e86\u3092\u8a08\u753b\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">CCS\uff08\u4e8c\u9178\u5316\u70ad\u7d20\u56de\u53ce\u30fb\u8caf\u7559\uff09\u4e8b\u696d\u3078\u306e\u53c2\u5165<\/h3>\n\n\n\n<p>\u4e16\u754c\u521d\u306e\u672c\u683c\u7684CCS\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u3067\u3042\u308b<strong>Northern Lights<\/strong>\uff08\u30ce\u30eb\u30a6\u30a7\u30fc\uff09\u5411\u3051\u306b\u6db2\u5316CO2\u82394\u96bb\u4e2d3\u96bb\u306e\u50ad\u8239\u5951\u7d04\u3092\u7de0\u7d50\u30022024\u5e7411-12\u6708\u306b2\u96bb\u304c\u7ae3\u5de5\u3057\u8a66\u904b\u8ee2\u3092\u958b\u59cb\u3057\u305f\u3002\u56fd\u5185\u3067\u3082\u6771\u4eac\u30ac\u30b9\u30fb\u95a2\u897f\u96fb\u529b\u3068CO2\u8f38\u9001\u306e\u5171\u540c\u691c\u8a0e\u3092\u9032\u3081\u3066\u304a\u308a\u30012030\u5e74\u4ee3\u306b\u306f<strong>200\u96bb\u4ee5\u4e0a<\/strong>\u306eCO2\u8239\u9700\u8981\u304c\u898b\u8fbc\u307e\u308c\u308b\u6210\u9577\u5e02\u5834\u3078\u306e\u5e03\u77f3\u3092\u6253\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u6d0b\u4e0a\u98a8\u529b\u767a\u96fb\u95a2\u9023\u3067\u306f\u5b50\u4f1a\u793e\u30b1\u30a4\u30e9\u30a4\u30f3\u30fb\u30a6\u30a4\u30f3\u30c9\u30fb\u30b5\u30fc\u30d3\u30b9\u304cOSV\uff08\u30aa\u30d5\u30b7\u30e7\u30a2\u652f\u63f4\u8239\uff09\u3092\u904b\u822a\u3057\u30012024\u5e74\u306b\u306f\u5730\u8cea\u8abf\u67fb\u8239\u300cEK HAYATE\u300d\u3092\u5c31\u822a\u3055\u305b\u308b\u306a\u3069\u3001\u518d\u751f\u53ef\u80fd\u30a8\u30cd\u30eb\u30ae\u30fc\u95a2\u9023\u4e8b\u696d\u306e\u62e1\u5927\u3092\u56f3\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">\u30ea\u30b9\u30af\u8981\u56e0\uff1a\u5e02\u6cc1\u5909\u52d5\u3001\u5730\u653f\u5b66\u3001\u70ba\u66ff\u306e\u4e09\u91cd\u30ea\u30b9\u30af<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">\u30b3\u30f3\u30c6\u30ca\u5e02\u6cc1\u3078\u306e\u9ad8\u4f9d\u5b58\u5ea6<\/h3>\n\n\n\n<p>\u5ddd\u5d0e\u6c7d\u8239\u6700\u5927\u306e\u30ea\u30b9\u30af\u306f\u7d4c\u5e38\u5229\u76ca\u306e**67%**\u3092ONE\uff08\u30b3\u30f3\u30c6\u30ca\u8239\u4e8b\u696d\uff09\u306b\u4f9d\u5b58\u3059\u308b\u69cb\u9020\u306b\u3042\u308b\u3002\u65e5\u672c\u90f5\u8239\u306f\u7269\u6d41\u4e8b\u696d\u3001\u5546\u8239\u4e09\u4e95\u306f\u4e0d\u52d5\u7523\u4e8b\u696d\u3078\u306e\u5206\u6563\u6295\u8cc7\u3092\u9032\u3081\u308b\u4e2d\u3001\u5ddd\u5d0e\u6c7d\u8239\u306f\u300c\u6d77\u904b\u4e00\u672c\u8db3\u6253\u6cd5\u300d\u3092\u7dad\u6301\u3057\u3066\u304a\u308a\u3001\u5e02\u6cc1\u4e0b\u843d\u5c40\u9762\u3067\u306e\u696d\u7e3e\u4e0b\u632f\u308c\u30ea\u30b9\u30af\u304c\u6700\u3082\u5927\u304d\u3044\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\uff1a\u7d05\u6d77\u60c5\u52e2\u304c\u6700\u91cd\u8981\u5909\u6570<\/h3>\n\n\n\n<p>2023\u5e7411\u6708\u4ee5\u964d\u306e\u30d5\u30fc\u30b7\u6d3e\u306b\u3088\u308b\u7d05\u6d77\u3067\u306e\u8239\u8236\u653b\u6483\u306f\u3001\u30b9\u30a8\u30ba\u904b\u6cb3\u901a\u822a\u91cf\u3092\u524d\u5e74\u6bd4<strong>60%\u6e1b<\/strong>\u306b\u6025\u6e1b\u3055\u305b\u305f\u3002\u559c\u671b\u5cf0\u8fc2\u56de\u306b\u3088\u308a\u30a2\u30b8\u30a2-\u6b27\u5dde\u9593\u306e\u822a\u884c\u65e5\u6570\u304c14-21\u65e5\u5ef6\u9577\u3057\u3001\u8239\u8179\u9700\u7d66\u306e\u903c\u8feb\u3092\u901a\u3058\u3066\u904b\u8cc3\u3092\u62bc\u3057\u4e0a\u3052\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p><strong>\u30ac\u30b6\u505c\u6226\u5408\u610f<\/strong>\u3084\u7d05\u6d77\u60c5\u52e2\u306e\u5b89\u5b9a\u5316\u306f\u3001\u77ed\u671f\u7684\u306b\u306f\u904b\u8cc3\u4e0b\u843d\u2192\u5ddd\u5d0e\u6c7d\u8239\u306e\u696d\u7e3e\u60aa\u5316\u8981\u56e0\u3068\u306a\u308b\u4e21\u5203\u306e\u5263\u3067\u3042\u308b\u3002\u30d1\u30ca\u30de\u904b\u6cb3\u306e\u6c34\u4f4d\u554f\u984c\u3001\u53f0\u6e7e\u6d77\u5ce1\u30ea\u30b9\u30af\u3001\u7c73\u4e2d\u8cbf\u6613\u6469\u64e6\u3082\u7d99\u7d9a\u7684\u306a\u30ea\u30b9\u30af\u8981\u56e0\u3068\u3057\u3066\u6ce8\u8996\u304c\u5fc5\u8981\u3060\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u70ba\u66ff\u30ea\u30b9\u30af\u3068\u71c3\u6599\u8cbb\u5909\u52d5<\/h3>\n\n\n\n<p>\u5ddd\u5d0e\u6c7d\u8239\u306e\u70ba\u66ff\u611f\u5fdc\u5ea6\u306f<strong>1\u5186\u3067\u7d0412\u5104\u5186<\/strong>\uff08\u5e74\u9593\u30d9\u30fc\u30b9\uff09\u3002\u30c9\u30eb\u5efa\u3066\u58f2\u4e0a\u6bd4\u7387\u304c<strong>\u7d048\u5272<\/strong>\u3068\u6771\u8a3c\u30d7\u30e9\u30a4\u30e0\u5e02\u5834\u3067\u6700\u3082\u30c9\u30eb\u6bd4\u7387\u304c\u9ad8\u3044\u696d\u7a2e\u3067\u3042\u308a\u3001\u5186\u9ad8\u9032\u884c\u306f\u6e1b\u76ca\u8981\u56e0\u3068\u306a\u308b\u3002\u71c3\u6599\u8cbb\u306b\u3064\u3044\u3066\u306f\u30b5\u30fc\u30c1\u30e3\u30fc\u30b8\u3067\u306e\u8ee2\u5ac1\u3068\u5148\u7269\u53d6\u5f15\u306b\u3088\u308b\u4fa1\u683c\u56fa\u5b9a\u5316\u3067\u5bfe\u5fdc\u3057\u3066\u3044\u308b\u304c\u3001LNG\u71c3\u6599\u7b49\u306e\u74b0\u5883\u5bfe\u5fdc\u71c3\u6599\u306f\u5f93\u6765\u71c3\u6599\u6bd415-30%\u9ad8\u30b3\u30b9\u30c8\u3068\u306a\u308b\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">\u6295\u8cc7\u5224\u65ad\uff1a\u9ad8\u914d\u5f53\u3068\u5272\u5b89\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u304c\u4e0b\u652f\u3048\u3001\u6e1b\u76ca\u7e54\u308a\u8fbc\u307f\u9032\u884c\u4e2d<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">\u30a2\u30ca\u30ea\u30b9\u30c8\u8a55\u4fa1\u3068\u30b3\u30f3\u30bb\u30f3\u30b5\u30b9<\/h3>\n\n\n\n<p>\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c89\u540d\u306e\u30b3\u30f3\u30bb\u30f3\u30b5\u30b9\u306f**\u300c\u4e2d\u7acb\u300d<strong>\u3002\u5e73\u5747\u76ee\u6a19\u682a\u4fa1\u306f<\/strong>2,161\u5186**\uff08\u9ad8\u50242,500\u5186\u3001\u5b89\u50241,300\u5186\uff09\u3067\u3001\u73fe\u5728\u682a\u4fa12,086\u5186\u306b\u5bfe\u3057\u3066\u82e5\u5e72\u306e\u4e0a\u5024\u4f59\u5730\u3092\u793a\u5506\u3059\u308b\u3002\u7c73\u7cfb\u5927\u624b\u8a3c\u5238\u306e\u4e00\u90e8\u306f\u5f31\u6c17\u3067\u76ee\u6a19\u682a\u4fa11,290-1,320\u5186\u3092\u63b2\u793a\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u682a\u4fa1\u63a8\u79fb\u3068\u6295\u8cc7\u30dd\u30a4\u30f3\u30c8<\/h3>\n\n\n\n<p>\u682a\u4fa1\u306f2020\u5e743\u6708\u306e\u30b3\u30ed\u30ca\u30b7\u30e7\u30c3\u30af\u5b89\u5024<strong>238\u5186<\/strong>\u304b\u30892025\u5e749\u6708\u9ad8\u5024<strong>2,362\u5186<\/strong>\u307e\u3067\u7d0410\u500d\u306b\u4e0a\u6607\u3002\u5e74\u521d\u6765\u5b89\u5024\u306f4\u6708\u306e1,572\u5186\u3067\u3001\u6e1b\u76ca\u4e88\u60f3\u3092\u76f8\u5f53\u7a0b\u5ea6\u7e54\u308a\u8fbc\u3093\u3060\u6c34\u6e96\u306b\u3042\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th>\u6295\u8cc7\u30dd\u30a4\u30f3\u30c8<\/th><th>\u8a55\u4fa1<\/th><\/tr><\/thead><tbody><tr><td><strong>\u30dd\u30b8\u30c6\u30a3\u30d6\u8981\u56e0<\/strong><\/td><td><\/td><\/tr><tr><td>\u914d\u5f53\u5229\u56de\u308a5.75%<\/td><td>\u9ad8\u914d\u5f53\u682a\u3068\u3057\u3066\u9b45\u529b\u7684<\/td><\/tr><tr><td>PBR 0.79\u500d<\/td><td>\u7d14\u8cc7\u7523\u306b\u5bfe\u3057\u3066\u5272\u5b89<\/td><\/tr><tr><td>\u81ea\u5df1\u8cc7\u672c\u6bd4\u738775.6%<\/td><td>\u8ca1\u52d9\u5065\u5168\u6027\u304c\u9ad8\u3044<\/td><\/tr><tr><td>\u8131\u70ad\u7d20\u6295\u8cc7\u306e\u5148\u884c<\/td><td>\u4e2d\u9577\u671f\u7af6\u4e89\u529b\u306e\u6e90\u6cc9<\/td><\/tr><tr><td><strong>\u30cd\u30ac\u30c6\u30a3\u30d6\u8981\u56e0<\/strong><\/td><td><\/td><\/tr><tr><td>2026\u5e743\u6708\u671f\u7d14\u5229\u76ca66%\u6e1b\u4e88\u60f3<\/td><td>\u5927\u5e45\u6e1b\u76ca\u5c40\u9762<\/td><\/tr><tr><td>ONE\u4f9d\u5b58\u5ea667%<\/td><td>\u5e02\u6cc1\u5909\u52d5\u30ea\u30b9\u30af\u304c\u6700\u5927<\/td><\/tr><tr><td>\u8239\u8179\u4f9b\u7d66\u904e\u5270\u30ea\u30b9\u30af<\/td><td>\u4e2d\u671f\u7684\u306a\u904b\u8cc3\u4e0b\u62bc\u3057\u5727\u529b<\/td><\/tr><tr><td>\u7d05\u6d77\u6b63\u5e38\u5316\u30ea\u30b9\u30af<\/td><td>\u904b\u8cc3\u4e0b\u843d\u8981\u56e0<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">\u7af6\u5408\u6bd4\u8f03<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th>\u6307\u6a19<\/th><th>\u5ddd\u5d0e\u6c7d\u8239<\/th><th>\u65e5\u672c\u90f5\u8239<\/th><th>\u5546\u8239\u4e09\u4e95<\/th><\/tr><\/thead><tbody><tr><td>\u58f2\u4e0a\u9ad8\uff082024\u5e74\u5ea6\uff09<\/td><td>1.05\u5146\u5186<\/td><td>2.4\u5146\u5186<\/td><td>1.8\u5146\u5186<\/td><\/tr><tr><td>\u7d4c\u5e38\u5229\u76ca\u7387<\/td><td><strong>29.4%<\/strong><\/td><td>20%<\/td><td>23.6%<\/td><\/tr><tr><td>ONE\u4f9d\u5b58\u5ea6<\/td><td><strong>67%<\/strong><\/td><td>56%<\/td><td>52%<\/td><\/tr><tr><td>\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387<\/td><td>75%<\/td><td>\u4e2d\u4f4d<\/td><td>\u4e2d\u4f4d<\/td><\/tr><tr><td>\u914d\u5f53\u5229\u56de\u308a<\/td><td>5.75%<\/td><td>\u7d044%<\/td><td>\u7d044-5%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>\u5ddd\u5d0e\u6c7d\u8239\u306f\u7d4c\u5e38\u5229\u76ca\u7387\u3067\u306f3\u793e\u4e2d\u30c8\u30c3\u30d7\u3060\u304c\u3001ONE\u4f9d\u5b58\u5ea6\u306e\u9ad8\u3055\u304b\u3089\u696d\u7e3e\u306e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u3082\u6700\u5927\u3068\u306a\u308b\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">\u7d50\u8ad6\uff1a\u5e02\u6cc1\u611f\u5fdc\u5ea6\u3092\u7406\u89e3\u3057\u305f\u4e0a\u3067\u306e\u9ad8\u914d\u5f53\u682a\u6295\u8cc7<\/h2>\n\n\n\n<p>\u5ddd\u5d0e\u6c7d\u8239\u306f**\u81ea\u5df1\u8cc7\u672c\u6bd4\u738775%**\u306e\u5805\u56fa\u306a\u8ca1\u52d9\u57fa\u76e4\u3001<strong>PBR 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