ENN Scraps Deal to Buy Toshiba's US LNG Business
Japan’s Toshiba Corporation April 11 said China’s ENN Ecological Holdings has terminated the purchase and sales agreement to buy Toshiba America LNG Corporation, a consolidated subsidiary of Toshiba responsible for the LNG business in the US.
The deal was announced in November last year. Toshiba America LNG Corporation, established in 2017, has entered into various agreements including a liquefaction tolling agreement with Freeport LNG Train 3. It has also entered into a natural gas transport agreement with an affiliate of the Enbridge Corporation.
ENN is one of the largest LNG traders in China. Last year, its Zhoushan terminal in Zhejiang province in eastern China received its first cargo, which came from Qatar. The 3mn mt/yr (4.1bn m3/yr) Zhoushan LNG receiving terminal is the first large-scale privately-owned terminal approved by China's National Energy Administration. The project includes two 160,000 m3 tanks, one unloading dock for 266,000m3 LNG ships, along with other related infrastructure.