Report: China’s ENN buys 26 LNG cargoes

A unit of Chinese gas distributor ENN Group has reportedly purchased about 26 cargoes of liquefied natural gas (LNG) for 2022 and 2023.

ENN LNG (Singapore) agreed to but the cargoes via a tender in order to replenish stocks as new storage becomes operational, according to a report by Reuters citing two trading sources.

The firm bought the LNG cargoes at premiums of about $1-2 per million British Thermal Unit over the Dutch Title Transfer Facility, or TTF, the report said.

The two-year deal adds to a 10-year tender ENN issued in March, as ENN’s east China-based receiving terminal has since last August expanded in handling capacity thanks to a newly started pipeline to a provincial grid, the agency said.

ENN has added two storage tanks each sized 160,000 cubic metres around the end of June at its Zhoushan terminal, it said.

As a result, ENN’s LNG imports would likely reach 5 million tonnes this year, nearly doubling the volume from that of 2020, Reuters said.

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