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

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

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 ...

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."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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 ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

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 ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »