Australian LNG player Woodside said Monday it has signed a cooperation agreement with Chinese privately-owned gas distributor ENN Group.
Under the deal, which was signed at a ceremony in Zhoushan in China, the two companies will work together to explore a broad range of potential business opportunities mainly in the liquefied natural gas (LNG) sector.
“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,” Woodside’s Executive Vice President Marketing Trading & Shipping Reinhardt Matisons said in a statement.
He added that other potential areas for cooperation include oil and gas exploration and production, liquefaction and regasification projects, and power generation.
“Woodside is planning to add to its existing LNG production portfolio with its proposed developments of the Scarborough and Browse offshore gas resources through the Burrup Hub in Western Australia,” Matisons said.
To remind, ENN Group recently commissioned the first phase of its Zhoushan LNG import terminal and is aiming to grow its market share in China’s gas distribution and retailing sector, as well as internationally.
The Chinese company has also ordered an LNG bunkering vessel at the compatriot shipbuilder Dalian Shipbuilding Industry Company (DSIC).