Santos (ASX:STO) today confirmed that China’s ENN has ceased to be a substantial shareholder in the Australian-listed oil and gas producer.
Engie has signed a 15-year sale and purchase agreement for buy US LNG, reversing France’s implicit ban on shale gas supplies.
US-based NextDecade will supply China’s ENN with 1.5 million tonnes per year (mtpy) of liquefied natural gas (LNG) for 20 years, starting as early as 2026, from the proposed Rio Grande export project in Texas. Significantly, this is the fourth US-China LNG deal struck in the past two weeks.
News that Cheniere (NYSE:LNG) signed a long-term liquefied natural gas (LNG) supply contract with China’s ENN Natural Gas (CH:600803) earlier this week marked the first major US-China deal since 2018. Over the past three years, new LNG deals between the two great powers were put on ice as rising political tensions under the Trump administration thwarted trade.
US-based Cheniere Energy (NYSE:LNG) will supply 0.9 million tonnes per year of liquefied natural gas (LNG) to China for 13 years starting in July 2022 after signing a deal with ENN Natural Gas (SHA:600803).
China’s first seagoing liquefied natural gas (LNG) bunker vessel has been launched in Dalian to service ships passing through the waters of East China.
Santos said today that its largest shareholder had sold about one third of its stake worth A$785 million ($603.7 million) in the Australian gas producer. This ends a strategic relationship with ENN Group, which is one of the largest gas distributors in China.
Chinese gas distributor ENN has bought a $750 million stake in Australian gas producer Santos as it attempts to ease its dependence on state-owned suppliers for supply.
Total has agreed to a 10 year LNG deal with ENN.