Toshiba America, Inc. (TAI) has announced the formation of Toshiba America LNG Corp. (TAL), a new operating company that will focus on the liquid natural gas (LNG) market.
TAL is responsible for co-ordinating and assembling the necessary infrastructure chain to produce US LNG, which can then be marketed by the broader Toshiba group to key focus geographies such as Latin America, the Caribbean and Asia.
Takayuki Shibano was appointed President and CEO of TAL, Cheryl L. Roberts was appointed as Senior Vice President and CFO, while Veldanda (V.V.) Rao was appointed Senior Vice President and COO.
To facilitate this role, TAL will be one of five tolling customers at the Freeport LNG project in Quintana, Texas, USA. Toshiba has also entered into a pipeline capacity agreement with an affiliate of the Enbridge Corp. to bring US natural gas to the Freeport LNG facility and with Gulf LNG for tug services. Over the coming months and years, TAL will be entering into additional arrangements to facilitate the delivery of US LNG.
Over the past two decades, natural gas has emerged as a primary fuel, driven by concerns over greenhouse gas emissions and the desire for high conversion efficiency in power generation. LNG allows access to this sector in areas across the world which are unreachable by pipeline.
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