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Firms launch partnership in Australia’s Santos

Two Chinese companies on Tuesday launched a strategic partnership with Santos, one of Australia’s largest natural gas producers.

ENN Group and Hony Capital hold a combined 15.1- percent stake in Santos, and the new arrangement will see “mutual cooperation and assistance” from both sides to spur Santos’ growth- based strategy in Australia and Papua New Guinea.

“Hony became a major shareholder in 2015 and together with ENN has continued to support Santos through challenging times,” said Santos Chairman Peter Coates. “We look forward to a closer relationship with Hony and ENN and their support for the continued growth of Santos for the benefit of all shareholders.”

ENN Chairman Yusuo said that the strategic relationship will effectively link up the upstream exploration and production competence of Santos with China’s fast- growing downstream market of natural gas. It will offer opportunities for Santos to realize its full potential as a leading producer of gas.