ENN bargaining for LNG supply

ENN bargaining for LNG supply

China’s ENN Energy Holdings has entered negotiations with multiple LNG suppliers looking to book over 1 million tons per year of liquefied natural gas. 

The company’s vice president Ma Shenyuan told Platts that ENN aims to select the best offer for a 1 mtpa supply deal with a term of five to 10 years starting in 2018.

Shenyuan added that liquefied natural gas would be delivered to ENN’s terminal in Zhejiang region.

He noted that some of the suppliers the company is negotiating the deal with are offering U.S. volumes, which, according to Shenyuan will increase diversity and competition to the industry.

ENN’s 3 mtpa LNG terminal, that is scheduled to commence operations in 2018 will be opened to third parties from the start, Shenyuan said, adding that the terminal’s capacity is expected to be expanded to 10 mtpa of LNG.

The expansion would enable the supply of additional term and spot cargoes.

The company is currently seeking spot cargoes for 2015 delivery, but Shenyuan added that these deliveries are dependent on deals with national oil companies, as cargoes should be delivered to state-owned LNG terminals.

ENN has already made such an arrangement when the 2011-built 160,500 cbm Sonangol Benguela carrier delivered its cargo to CNPC’s Rudong LNG receiving terminal in December last year.

 

LNG World News Staff; Image: ENN

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Posted on October 29, 2015 with tags .

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