China’s ENN further cuts stake in Australia’s Santos

China’s ENN has further reduced its ownership in Australian liquefied natural gas (LNG) producer Santos following a stake sale last year.

In March last year, ENN offloaded about 107.1 million shares, representing a 5.14 percent stake in Santos.

The Chinese firm remained Santos’ largest single shareholder with a 9.97 percent stake, but a 2017 strategic relationship agreement regarding board representation and other matters fell through.

This year ENN further reduced its stake in the LNG producer.

“Santos notes media speculation today regarding a potential selldown by ENN of a 9.97 percent stake in Santos,” the Australian firm said in a statement on Monday.

“ENN lodged a notice of ceasing to be a substantial shareholder in Santos with ASX on April 22, 2022, disclosing that their shareholding had dropped below 5 percent,” Santos said.

Santos is now a bigger company following the completion of the merger deal with PNG-focused Oil Search in December.

The company reported record earnings in the first half of 2022, boosted by high oil and LNG prices.

Most Popular

Cheniere to start site preparation for two more Corpus Christi LNG trains

US LNG exporting giant Cheniere is seeking approval from the US FERC to start site preparation activities for two more midscale trains at its Corpus Christi LNG plant in Texas.

Amigo LNG, Sahara seal 20-year SPA

Amigo LNG, a unit of LNG Alliance, has signed a 20-year sales and purchase agreement with Sahara Group to supply the latter with liquefied natural gas from its planned 7.8 mtpa LNG export plant in Mexico.

Woodside names Sarah Bairstow as Louisiana LNG head

Australian LNG player Woodside has appointed Sarah Bairstow to lead its Louisiana LNG project.

More News Like This

Santos: Barossa project 95.2 percent complete

The Barossa gas project, which will supply feed gas to the Santos-operated Darwin LNG plant, is 95.2 percent complete and remains on target for first production in the third quarter of 2025, Santos said on Thursday.

Santos says Barossa project 91 percent complete

The Barossa gas project, which will supply feed gas to the Santos-operated Darwin LNG plant, is 91 percent complete and remains on target for first production in the third quarter of 2025, Santos said on Wednesday.

TotalEnergies CEO says partners working hard on Papua LNG

TotalEnergies has a 37.55 percent operating stake in the Papua LNG project, ExxonMobil has 37.04 percent, Santos owns a...

Santos, Tamboran to study options for second Darwin LNG train

The partners jointly own the EP 161 acreage in the Beetaloo basin with Santos holding a 75 percent operating...