Toshiba will resume the sale process of its US LNG business
Published by Will Owen,
Editor
LNG Industry,
According to the latest Reuters report, Toshiba Corp. has announced that plans for its US LNG business to be sold to China’s ENN have been scrapped.
ENN reportedly could not complete the takeover of the LNG business because of a lack of approval from shareholders and a US panel monitoring foreign investments.
Toshiba will resume its process to move on from the business and stated that it will not book the planned group loss of approximately US$831 million related to the deal in the last financial year (ended 31 March 2019).
The company is targeting March 2020 for the completion of the transfer.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/17042019/toshiba-will-resume-the-sale-process-of-its-us-lng-business/
You might also like
EIA: US natural gas trade will continue to grow with the start-up of new LNG export projects
The U.S. Energy Information Administration’s recently released Short-Term Energy Outlook forecasts that US LNG exports will continue to lead growth in US natural gas trade as three LNG export projects currently under construction start operations and ramp up to full production by the end of 2025.