Total takes on Toshiba's US LNG business after Chinese buyer pulls out

PARIS/TOKYO: Total will take over Toshiba's U.S. liquefied natural gas business and get US$800 million cash from the Japanese group as part of the deal, the companies said on Saturday, weeks after attempts to sell it to a Chinese buyer fell through.

Toshiba was locked into a contract to pay a fixed processing fee for LNG over 20 years from Freeport LNG - regardless of whether it could later find buyers for the fuel at prevailing rates. "The takeover of Toshiba's LNG portfolio is in line with Total's strategy to become a major LNG portfolio player," the French company said in a statement.It added that the purchase would add 2.2 million tonnes per annum of LNG to its U.S. business, which would"enable optimizations of the supply and operations of these LNG sources."

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

NXP to buy Marvell's WiFi, Bluetooth business for US$1.76 billionREUTERS: Chipmaker NXP Semiconductors NV said on Wednesday it will buy Marvell Technology Group Ltd's wireless connectivity business for US$1.76 ...
Sumber: ChannelNewsAsia - 🏆 6. / 66 Baca lebih lajut »

Mexico, US business groups urge Trump to back down on tariff threatMEXICO CITY: Mexico's president and the top U.S. business lobbying group called on President Donald Trump to back down from a threat to impose ...
Sumber: ChannelNewsAsia - 🏆 6. / 66 Baca lebih lajut »