Australia and OceaniaCorporate

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

By LNG Prime Staff
China’s ENN further cuts stake in Australia's Santos
Image: 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

Contracts and Tenders

Venture Global doubles Greek LNG supply deal

US LNG exporter Venture Global LNG and a joint venture of Greek companies Aktor and DEPA have doubled volumes under their previously announced LNG supply deal.
LNG as Fuel

CMA CGM, CCEC order LNG bunkering vessel in China

Greece's Capital Clean Energy Carriers (CCEC) and France's CMA CGM have ordered one LNG bunkering vessel from Chinese shipbuilder Nantong CIMC Sinopacific Offshore & Engineering. Upon delivery in 2028, the vessel will serve a long-term charter deal with a joint venture of TotalEnergies and CMA CGM.
LNG Terminals

Australia’s FWC rules not to stop Ichthys LNG strike

Australia's national workplace relations tribunal has denied a request by Japan's I npex to stop industrial action at the Ichthys ​liquefied natural gas (LNG) export terminal in Australia’s Northern Territory.

More News Like This

LNG Terminals

Japan’s Jera gets first Barossa LNG cargo at Futtsu terminal

Japan’s power firm and LNG trader, Jera, has received its first Darwin LNG cargo produced from Australia's Barossa gas field at the Futtsu LNG terminal in Japan.
LNG Terminals

Santos takes FID on Agogo project in Papua New Guinea

Australian LNG player Santos has taken a final investment decision to proceed with the Agogo production facility tie-in project in Papua New Guinea, following approval by the ExxonMobil-led PNG LNG joint venture.
LNG Terminals

Santos: Barossa FPSO to start ramping up production next week

Australian LNG player Santos expects the Barossa floating storage and offloading facility (FPSO) to start ramping up production in the next week, with LNG production at the Darwin plant following thereafter.
Contracts and Tenders

JGC, Hyundai E&C secure Papua LNG EPC contract

Japan’s JGC and South Korea’s Hyundai Engineering & Construction have been selected as the engineering, procurement, and construction (EPC) contractor for the TotalEnergies-led Papua LNG project in Papua New Guinea. The final EPC contract award is expected after the project's final investment decision (FID) in 2026, according to JGC.