LNG

Santos in talks with ENN to form Chinese LNG import JV

Australian oil and gas producer Santos is in talks with its biggest shareholder, Chinese company ENN Group, to form a joint venture to supply LNG to China.
By Staff reporter 21 February 2018 0 29680

Australian oil and gas producer Santos is in talks with its biggest shareholder, Chinese company ENN Group, to form a joint venture to supply LNG to China, Chief Executive Kevin Gallagher said on Wednesday.

“I am very pleased to announce today that [we] are in discussions to form a joint venture [...] With an end-user like ENN, we see that as a marriage made in heaven,” Gallagher said during an earnings call.

Santos announced that its net profit increased by 433% year on year in 2017, to...