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Woodside ties up with ENN

MELBOURNE

Australia’s Woodside Petroleum said it had signed an agreement to work with China’s privately owned ENN Group on potential business opportunities that could boost demand for Woodside’s liquefied natural gas (LNG).

The agreement, disclosed in a statement by Woodside, comes as Australian companies scent opportunities to expand LNG sales to China after Beijing imposed a 10 per cent tariff on US LNG imports in a trade war between the world’s two biggest economies.

Australia’s Santos has a similar tie-up with ENN, which is also its top shareholder.

"Woodside’s aim is to grow our relationship with ENN Group, and we now plan to jointly investigate opportunities for cooperation in LNG marketing, trading and shipping," Reinhardt Matisons, Woodside’s executive vice president for marketing, trading and shipping, said in the statement.

Woodside said the agreement was signed in the Chinese coastal city of Zhoushan, where ENN recently opened an LNG import terminal.

ENN said the agreement with Woodside amounted to an intent to cooperate. ENN is exploring "more extensive cooperation with LNG supply chain partners" globally following the launch of the Zhoushan terminal and the growth of its natural gas business, the company said in an emailed response to questions.




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