24 January 2019, News Wires — A senior executive with China’s private energy company ENN Group is leaving the firm to join independent resource developer Pacific Oil and Gas, people with direct knowledge of the move told Reuters.
Ma Shenyuan, formerly a senior vice president of ENN Group and head of its international gas trade, has resigned from ENN and is expected to start his new role as chief of China operation at Pacific Oil & Gas from the end of this month.
Ma declined to comment on his move. ENN Group didn’t immediately comment.
Sources said Ma will be in charge of Pacific Oil & Gas’ China business, which covers natural gas trading and projects including a power plant in south China and investment in an LNG receiving terminal controlled by state energy giant PetroChina .
Pacific Oil & Gas is part of RGE, an independent group that’s also involved in pulp and palm oil businesses with offices in Singapore, Hong Kong, Beijing and Jakarta.
Calls to Pacific Oil & Gas’s offices in Singapore and Beijing went unanswered.
Apart from its stake in PetroChina’s Rudong import terminal in east China, Pacific Oil & Gas also operates an LNG subsidiary, Woodfibre LNG Ltd, which is proposing to build an LNG processing and export facility in British Columbia in Canada.
ENN Group, which started as a piped gas distributor in China, is the country’s first major private investor in a major LNG receiving terminal. The terminal, in east China’s Zhoushan, started operation last October.