Inform
ENN acquires Toshiba's US LNG business
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Report summary
Toshiba has sold its US LNG business to ENN, inclusive of 2.2 mmtpa tolling agreement at Freeport Train 3. First LNG under the tolling agreement is expected in Q3 2020. The deal is a positive sign for US LNG developers that China is still open for business despite tariffs on US LNG. Even with a 10% tariff, HH indexed LNG from Freeport is still cheaper than current oil indexed LNG prices. Even so, China may not be the only destination market. ENN plans to set up an LNG trading business using its Zhoushan terminal as a hub for reloads, break-bulking and bunkering. Zhoushan is located in a free trade zone and therefore able to import, store and reload without paying LNG import tariffs.
Table of contents
- Toshiba's LNG gamble
- ENN rationale
Tables and charts
This report includes 2 images and tables including:
- LNG prices: HH vs Oil index, DES China
- ENN regas capacity vs contracted volumes
What's included
This report contains:
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