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Published in TZ Latest News 5 November, 2015 by The TZ Newswire Staff

Exclusive: Toshiba tries to sell down $7 billion U.S. gas commitment

TOKYO/MILAN (Reuters) – Japan’s Toshiba, struggling with a major accounting scandal, is trying to sell down a $7.4 billion commitment to U.S. liquefied natural gas (LNG), which it signed two years ago as part of a plan to sweeten sales of turbines for power plants. A plunge in Asian gas prices means an expected U.S. export bonanza has fizzled out before it even started, and has left the giant conglomerate potentially exposed to LNG processing fees of up to $370 million a year.

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