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

Venture Global, Petronas seal 20-year LNG SPA

US LNG exporter Venture Global LNG has signed a 20-year LNG supply contract with Malaysian energy giant Petronas for volumes from the CP2 project in Louisiana.

Golden Pass LNG seeks re-export approval

Golden Pass LNG, a joint venture owned by energy giants QatarEnergy and ExxonMobil, is seeking approval from the US DOE to export previously imported LNG from October, as it nears the launch of the first liquefaction train.

TPDC, Energetech Tantel to develop Tanzanian small-scale LNG plant

State-run Tanzania Petroleum Development Corporation has signed a memorandum of understanding with Energetech Tantel to develop what they say is Tanzania's first small-scale LNG plant.

More News Like This

KN, SK Innovation E&S extend LNG cooperation pact

Lithuanian LNG terminal operator KN Energies and SK Innovation E&S, the energy unit of South Korean conglomerate SK Group, have extended their framework deal on cooperation opportunities in international LNG business development.

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...