China’s ENN Energy to Sell Stake in LNG Processing Plants

China’s ENN Energy plans to sell its 45% and 100% equity interests in the Beihai and Qinshui LNG processing plants respectively to Xinneng Mining Company.

ENN in a statement said that terms of sale have not been agreed, but valuation work will be commenced shortly to facilitate the negotiation of such terms.

The company intends to restructure its business portfolio by the disposal of its interests in the Beihai and Qinshui LNG processing plants, so as to focus the application of its resources to the development of its core downstream operations, ENN said.