Aug 3, 2017   SOURCE: BusinessWire

New Toshiba Business Focuses on Export of US LNG

Toshiba America, Inc. (TAI) publicly announced the formation of Toshiba America LNG Corporation (TAL), a new operating company that will focus on the liquid natural gas (LNG) market.

Toshiba America LNG Corporation’s (TAL) is responsible for coordinating 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. To facilitate this role, TAL will be one of five tolling customers at the Freeport LNG project in Quintana, Texas. Toshiba has also entered into a pipeline capacity agreement with an affiliate of the Enbridge Corporation 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.

Toshiba is a world leader in electrical and electronic products. The global power sector is a primary focus area for the company and in particular the area of gas fired generation. Over the past two decades, natural gas has emerged as a primary fuel for this sector driven by concerns around greenhouse gas emissions and the desire for high conversion efficiency in power generation. LNG, or liquefied natural gas, allows access to this sector in areas across the world which are unreachable by pipeline. As a world leader in power and energy, Toshiba wishes to broaden its global value proposition by offering LNG based fuel to power generators, utilities and industrial customers.

MANAGEMENT TEAM

Takayuki Shibano was appointed President and CEO of Toshiba America LNG Corporation. Mr. Shibano joined Toshiba in 1987 as an engineer and has spent most of his distinguished career in Toshiba’s energy operations, taking on various assignments of increasing responsibility and helping to further Toshiba’s energy business. He is a graduate of Osaka University, where he majored in Nuclear Engineering, and has also completed the Advanced Management Program at Harvard Business School.

Cheryl L. Roberts was appointed Senior Vice President and CFO. Ms. Roberts is a highly respected global leader in finance with over 25 years of experience in the energy industry. Prior to joining the company, she held senior leadership positions in the US, Europe and South America. She received her bachelor’s degree in Accounting from the University of Oklahoma and is a Certified Public Accountant.

Veldanda (V.V.) Rao was appointed Senior Vice President and COO. Mr. Rao is a senior energy professional with over 30 years of cross-functional, commercial and technical experience in LNG, gas and power, with over 20 years has been in various international markets including Asia, Middle Australia / New Zealand and South America. Mr. Rao has obtained his undergraduate and post graduate education in Electrical Engineering from Canada. He is a registered Professional Engineer in the province of Alberta and has resided in Houston since 2011.

OPEN HOUSE

To celebrate the establishment of Toshiba America LNG Corporation (TAL), the company will host an open house reception on Thursday, August 3, 2017 for from 4:00PM - 7:00PM at our new office on 1800 West Loop South, Suite 1770, Houston, Texas.

About Toshiba America, Inc.

Founded in 1965, Toshiba America, Inc. (TAI) is a subsidiary of Tokyo-based Toshiba Corporation and the holding company of six Toshiba operating companies that offer a broad range of products and solutions for the residential, commercial, and industrial sectors. The six companies, which along with TAI are known collectively as Toshiba America Group, are Toshiba America Electronic Components, Inc. (Semiconductor and storage solutions), Toshiba America Energy Systems, Corp. (Power generation solutions), Toshiba America Information Systems, Inc. (Digital products), Toshiba America Nuclear Energy Inc. (Nuclear power solutions), Toshiba International Corporation (Industrial, power electronics & transmission & distribution solutions),and Toshiba America Research, Inc.(R&D).

About Toshiba America LNG Corporation

Toshiba America LNG Corporation (TAL) is an independent operating company owned by Toshiba America, Inc. TAL is responsible for coordinating 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, Caribbean and Asia. To facilitate this role, TAL will be one of five tolling customers at the Freeport LNG project in Quintana, Texas.