ENN signs a Heads of Agreement of Sales and Purchase with Woodside Energy
Published by Tom Mostyn,
Editorial Assistant
Hydrocarbon Engineering,
ENN has signed a Heads of Agreement (HOA) with Woodside Energy for the procurement of 1 million tpy of LNG from Woodside's portfolio for a period of 10 years, commencing in 2025. ENN Group CEO Mr. Zhang Yesheng and Woodside Energy CEO Peter Coleman attended the signing ceremony.
The HOA remains conditional upon the negotiation and execution of a fully termed Sales and Purchase Agreement and obtaining all necessary approvals and a final investment decision in Scarborough, Australia.
ENN is one of the largest private clean energy distributors in China, with 187 urban gas projects covering a population of 94.57 million. In 2018, the sales volume of ENN’s natural gas reached 23.3 billion m3, accounting for 8% of China's market share. In the same year, the first large-scale LNG receiving terminal invested in and constructed by private enterprises in China – Zhoushan LNG receiving terminal – was commissioned and started commercial operation. Meanwhile, based on the rapid development of the downstream market in China, ENN has entered into a number of medium and long-term LNG supply agreements with international suppliers, forming its initial trade network.
China's natural gas consumption has been growing rapidly. In 2018, China consumed 280 billion m3 of natural gas, and imported 54 million t of LNG, making it the world's largest natural gas importer and the second largest LNG importer. Australia ranks among the top sources of LNG imports into China.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/05042019/enn-signs-a-heads-of-agreement-of-sales-and-purchase-with-woodside-energy/
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