In WE-NET project Phase I Program, the power generation system with more than 60% (HHV) thermal efficiency had been designed. However, because this system must be fueled by pure hydrogen, commercialization of this system in early stage is thought to be difficult. Therefore, the new project, in which the natural gas fueled system is targeted, has been started since FY1999. In this project, the power generation efficiency is aimed to be 60% (HHV) or higher, with turbine inlet temperature of 1973K. In this report, the feature of the target system is explained at first. Then, the sensitivities of many parameters are examined in detail.