SK becomes shareholder in ENN’s Zhoushan LNG terminal

South Korea’s SK E&S has finalized the purchase of a 10 percent stake in ENN’s Zhoushan LNG import terminal in China.

The completion of this deal follows the signing of a cooperation agreement between the duo on April 24, according to a joint statement on Wednesday.

The two companies did not reveal financial details of the transaction.

The 3 mtpa Zhoushan facility, launched in 2018, is China’s first privately-owned large LNG import terminal.

The Chinese gas distributor is expanding the terminal located in the Zhejiang province to a total of 5 mtpa. It expects to launch the new facilities next year.

SK becomes shareholder in ENN's Zhoushan LNG terminal
Image: ENN

ENN said it hopes the new partnership would lead to further cooperation between the duo in “broader and more diverse fields.”

On the other side, this deal will enable SK to bring its LNG volumes from Australia and the US to China.

The South Korean company has long-term offtake deals with Chevron’s Gorgon LNG project in Australia and the Freeport project in the US.

It also has a contract for LNG supplies from BP’s Tangguh export plant in Indonesia.

Most Popular

Excelerate buys GasLog LNG carrier

US FSRU player Excelerate Energy has purchased a 2007-built steam liquefied natural gas (LNG) carrier from GasLog Partners, a part of Greek LNG shipping firm GasLog, according to brokers.

NextDecade, Bechtel agree $9 billion EPC deals for two Rio Grande LNG trains

US LNG firm NextDecade and compatriot Bechtel have finalized EPC contracts worth $9.09 billion for the construction of the fourth and fifth trains and related infrastructure at the Rio Grande LNG facility in Texas.

Worley updates on CP2 LNG work

Australian engineering firm Worley has provided an update on its reimbursable EPC contract with US LNG exporter Venture Global LNG for the latter's CP2 LNG terminal in Louisiana.

More News Like This

Adnoc, ENN seal 15-year LNG SPA

UAE’s Adnoc has signed a 15-year sales and purchase agreement with Chinese independent gas distributor ENN to supply the latter with LNG from its LNG terminal in Al Ruwais.

SK Innovation, SK E&S launch new company after merger

South Korea's SK Innovation and SK E&S have officially completed their merger, launching a new entity on November 1. Following...

SK Innovation, SK E&S merger approved

Shareholders of South Korea’s SK Innovation have approved the previously announced merger deal with SK E&S. Last month, the two...

South Korea’s SK Innovation, SK E&S agree to merge

South Korea's SK Innovation and SK E&S have agreed to merge into one firm, creating the largest private energy...