First Cargo of Guangdong Energy Group and Shenzhen Gas Arrived

SCI99

2019-05-23

First Cargo of Guangdong Energy Group and Shenzhen Gas Arrived

On May 22, the first ship of LNG purchased by Guangdong Energy Group (the former Yudean Group) and Shenzhen Gas arrived at CNOOC Dapeng Terminal successfully. The officers and staff from Guangdong DRC, Guangdong Energy Bureau, Shenzhen DRC, Guangdong Energy Group, Shenzhen Gas, HK Electric Company, PETRONAS, CNOOC Guangdong Company and other departments and companies attended the ceremony.

To follow the instructions of “Opening-up the infrastructure in the natural gas industry”, Guangdong Energy Group made great effort and cooperated well with CNOOC Guangdong Company. Guangdong Energy Group signed the Terminal Usage Agreement with CNOOC at the end of 2018 and then signed the purchasing contract of two ships of LNG (around 650kt per ship) with PETRONAS in March 2019 based on the research and forecast of the market. The purchasing was made by Guangdong Energy Group and Shenzhen Gas. The other ship will arrive at H2 June. It was heard that the price was quite competitive.

This is the first time that the downstream users and small shareholders of terminals could reach to the resources directly after the opening-up reform and will help to perfect the energy structure of Guangdong Province. Guangdong Energy Group, Shenzhen Gas and CNOOC Dapeng Terminal are going to make fine arrangement on the picking-up of the present resources and the arriving of the future LNGC. This is the great first step of the marketization reform and opening up policy of China’s natural gas industry.

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