Samsung Companies Consider Merger Again
South Korean shipbuilder Samsung Heavy Industries Co will try again to merge with sister company Samsung Engineering Co Ltd later this year, reports Korea Times. Samsung Engineering CEO Park Jung-heum has said he will once again pursue a merger talk. "Before pushing for the deal, we need understanding from the financial markets, which we believe is a key condition," he told local reporters. Samsung Heavy's planned $2.5 billion takeover of Samsung Engineering collapsed in November due to shareholder opposition. Some investors were dubious about the benefits of combining a shipbuilder with an engineering and construction firm. Samsung Heavy was in deep trouble as low oil prices hit its offshore plant business.
Texas LNG Gets Approval To Export LNG To FTA countries
Texas LNG LLC today announced that it has received authorization from the U.S. Department of Energy (DOE) to export domestically produced LNG to all existing, and any future, countries that have, or enter into, an FTA with the Government of the United States. DOE approval of FTA exports is an important component of the regulatory process necessary to develop Texas LNG's project on its 110 plus acre site with deepwater frontage to the Port of Brownsville shipping channel in Brownsville, Texas, USA. Under the DOE's order, Texas LNG has received authority to export on its own behalf and as agent for others, up to the equivalent of 100 Bcf/y (approximately 2 MTA) of domestically produced LNG.
