Indian-American CEO behind new $8.2bn US LNG project is an IIT Bombay grad: Meet Sharad Tak

In comparison, India stands among the world's biggest LNG importers. With a key US government approval in its pocket, the company's first LNG export facility, planned offsore of Matagorda, Texas, will include four liquefiction plants of 2.1 million metric tonnes per anum for combined production capacity of 8.4 mtpa. According to the US Department of Transportation, the ST LNG project could boost the country's export capacity by 7-9% and support about 2,000 construction jobs and up to 855 permanent jobs.

India-American entrepreneur's company to help expand US LNG exports The major billion-dollar port project also brings in a massive win for the South Asian diaspora in the United States, as the person spearheading the Rockville, Maryland-based company is an Indian-American entrepreneur. In addition to the US government greenlight, Chief executive Sharad Tak recently made headlines following an interview with Reuters.

In talks with the international news agency, the Indian-American CEO underscored that while his currently privately owned company doesn't have any long-term commitments from buyers, the firm is nearing a deal with an integrated energy company in India as its first buyer. "The war in the Middle East certainly has ⁠people making ​sure that they have diversified suppliers and America seems to be a ​more stable supplier than any other country," Tak told Reuters.

ST LNG's President Alap Shah, who is also of Indian origin, further told Reuters that commercial operations are expected to begin by mid-2030. The company has also received approval from the US Department of Energy to export to countries that have free trade agreements with the US. It is also expecting to soon get an affirmative nod to export to countries that don't have such agreements. US India Strategic Partnership Forum President Mukesh Aghi has since welcomed the US government's approvals of ST LNG's $8.2 billion project focused on building the deepwater port off the coast of Texas.

"As India seeks to diversify its energy supplies and strengthen energy security, projects such as this led by ST LNG can create new opportunities for long-term LNG trade between our two countries," Aghi said in a statement. From IIT Bombay to ST Group As a first-generation Indian-American entrepreneur, Tak now proudly stands among influential diaspora leaders backing major US infrastructure and energy investments.

Tak has built an all-encompassing business empire that spans information technology, broadcasting, luxury hotels, paper products and power generations. Through ST LNG, he's made his first foray into LNG. Before venturing into global business operations and turning his ST empire into a trusted US government partner, the multi-faceted entrepreneur and technologist completed his graduation in India. Sharad Kumar Tak finished his BTech. degree in Electrical Engineering from the prestigious Indian Institute of Technology Bombay in 1966 before embarking to fulfill the American Dream.

The next step was the State University of New York at Buffalo (SUNY), where he pursued a Masters degree in Computer Science. He became a naturalised citizens of the United States ten years after bidding farewell to IIT. How Sharad Tak earned the US government's trust as an entrepreneur After several years as Senior Computer Engineer with Computer Sciences Corporation, Tak took the leap of faith to become an entrepreneur and consolidate his diverse business interests in the United States and abroad.

The ambitious move centred around the establishment of a professional services company, Systems and Applied Sciences Corporation (SASC), later renamed ST Systems Corporation (STX). The broader banner of ST companies took off the ground in 1973 when Sharad Tak, now at the top of ST LNG's hierarchy chain as the founder and CEO, launched a technology consulting firm serving aerospace and defence organisations.

STX eventually forged solid ties with US government agencies, as it provided programming and systems integration services to high-profile banners such as NASA and Federal Aviation Administration (FAA). One of the earliest and biggest moves in his career saw Tak growing STX, originally a provider of programming and systems integration services to government agencies, into a massive $70 million business with 1,100 employees before he sold the firm to Hughes Aircraft in 1991.

Cut to present day, ST companies has now flourished into a multi-industry ecosystem with operations in the United States, India and the Middle East, boasting a mega portfolio of companies. Furthermore, Tak co-founded ST Tissue and ST Paper through the purchase and turnaround of a paper mil in Oconto Falls, Wisconsin, in 2007. Subsequently, expanding the footprint of the ST Group of companies, he also acquired idle mill assets in Franklin, Virginia, from International Paper in 2012.

He remains actively involved in diverse entrepreneurial ventures, especially in the US and India, through the ST Group of companies. Through business branches such as ST Power Systems and ST Refineries, Inc. he continues to forge crucial ties with India. While the former built, owned and operated a 250-mega watt thermal power plant at Neyveli in Tamil Nadu, which has posted a profit since 2002, the latter entered into MoU with the Government of Rajasthan for development of a 3 million ton per annum refinery.

With more than 40 years of experience under his belt as an entrepreneur, he focuses on strategy and growth to scale and sell several businesses in various industry verticals, according to his profile on the ST LNG LLC website. His global ventures have also included E-Com Systems, Nam International's luxury hospitality properties in Bermuda, Orange Technologies, and Tak Communications.