Australia’s Woodside Petroleum has signed a Cooperation Agreement with Chinese private sector gas distribution firm ENN Group under which the two companies will work together to explore a broad range of potential business opportunities.
The Cooperation Agreement was signed at a ceremony in Zhoushan on behalf of Woodside by Executive Vice President Marketing Trading & Shipping Reinhardt Matisons and by ENN Group CEO Cheung Yip Sang.
“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,” Matisons said.
“Other potential areas for cooperation include oil and gas exploration and production, liquefaction and regasification projects, and power generation," he added.
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, said the press release.
It said that ENN Group recently commissioned the first phase of the Zhoushan LNG import terminal and is aiming to grow its market share in China’s gas distribution and retailing sector, as well as internationally.
“This agreement will allow us to identify and explore options for mutually beneficial business opportunities as we embark on our respective growth phases,” said the release.