SHPGX Kicks off International LNG Online Trading, First Deal Made Btw Total & CNOOC
On August 28, 2020, SHPGX officially kicked off the online trading platform of international LNG trading. CNPC, Sinopec, CNOOC, Total and Glencore. The first deal was made between Total and CNOOC, and Sinopec also purchased a cargo later, making the trading volume of the first day to around 130,000 metric tons.
SHPGX’s online trading platform for international LNG cargoes was a new try beyond its traditional trading method under the new circumstances that PipeChina is shaping its LNG business gradually to provide more and more spare import window slots in the future, while China’s second tiers LNG buyers, including top city gas companies, huge industrial conglomerates and power giants are driven by the storage mandate to purchase LNG cargoes directly from the international oil companies instead of scattered truck loading purchase from terminals.
At the same time, Shenzhen’s QME has put its natural gas products into test run from August 26, as the third national natural gas exchange approved by NDRC after SHPGX and CQPGX. It is expected QME will take the policy advantages of Qianhai Cooperation Zoon and the experience advantage of its parent company HKEX, and the international LNG trading product will be soon put online.
