Toshiba to offload its US LNG business

Toshiba to offload its US LNG business
Image courtesy of Freeport LNG

Japanese conglomerate Toshiba is reportedly looking to shed its US liquefied natural gas business as talks have started with a number of companies from China and the United States. 

The company intends to sell its interest in the Freeport LNG project, which is considered a non-core business as the prices of liquefied natural gas are recovering, Nikkei reports.

The company issued tenders recently and has garnered interest with the sources telling Nikkei that the list of interested buyers includes JERA, Tellurian as well as Chinese state-owned PetroChina.

Toshiba is looking to offload its LNG business as it is considered a financial risk factor. The company’s unit Toshiba America LNG Corp. has failed to find buyers for all of its 2.2 mtpa portion of the Freeport LNG’s total production capacity it has booked under a take-or-pay liquefaction tolling agreement with the project. This could result in yearly of up to 200 billion yen ($1.8 billion).

The company believes the rising prices of LNG cold boost the appeal of its LNG business.

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >