Total, ENN Ink 10-year LNG Supply Pact
European oil major Total has agreed to supply 500,000 tonnes a year of liquefied natural gas (LNG) for 10 years to China's privately-run ENN Group, Total said on Thursday.
The supplies of the super-chilled natural gas will start in 2018 upon completion of ENN's planned receiving facility near the eastern coastal city of Zhoushan, Total said in a statement on its website.
Beijing is freeing up the nation's LNG trade as part of broad reforms that allow private companies to invest in oil and gas exploration as well as pipelines and tank farms, and to engage in importing and exporting. The aim is to help secure supplies while boosting competition and efficiency in an energy sector long dominated by state firms.
ENN Group is the parent company of Hong Kong-listed ENN Energy Holdings.
Reporting by Chen Aizhu