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.

- Advertisements -

Most Popular

ExxonMobil working on larger Rovuma LNG export project in Mozambique

US energy giant ExxonMobil has boosted the capacity of the planned Rovuma LNG onshore terminal in Mozambique and is...

Sempra takes FID on Port Arthur LNG project

US LNG player Sempra Infrastructure, a unit of Sempra, has taken a final investment decision for the first phase...

Excelerate to buy FSRU from Maran Gas

US floating LNG player Excelerate Energy plans to exercise an option to buy the 2020-built FSRU Sequoia from Greece’s...

More News Like This

China’s ENN to buy more US LNG from NextDecade

NextDecade, the developer of the Rio Grande LNG export plant in Texas, has agreed to supply more liquefied natural...

ENN’s newbuild wraps up first LNG bunkering op in Yantian port

State-owned energy giant CNPC said it had completed the first ship-to-ship LNG bunkering operation with ENN's newbuild in the...

China’s Hudong-Zhonghua bags order for LNG carrier trio

China's Tianjin Southwest Maritime has teamed up with CSSC Shipping, the leasing unit of CSSC, to order three 174,000-cbm...

China’s ENN takes delivery of first LNG bunkering vessel

China’s Dalian Shipbuilding Industry (DSIC) has delivered the first LNG bunkering vessel to compatriot independent gas distributor ENN. DSIC delivered...