The file photo shows a LNG terminal in Nantong, east China's Jiangsu Province.
SHANGHAI, Aug. 27 (Xinhua) -- Shanghai Petroleum and Natural Gas Exchange (SHPGX), a national energy trading center, announced on Wednesday to launch the international LNG online trading business.
The move echoes the country's efforts to guide in-depth integration of the digital economy and the real economy. It will use the digital technology to build an open, transparent, safe and efficient online trading platform for the market players at home and abroad, and promote digital trading of the international LNG, according to the SHPGX.
At present, the offline negotiation mode is generally adopted for the international LNG trade. It is worth noting that the online trading mode is more transparent, convenient and efficient than the offline transactions, which is conducive to promoting full market competition and activating international LNG trade.
As the world's largest natural gas importer and the second largest LNG importer in the world, China is constantly deepening the oil and gas market-oriented reforms and steadily building a natural gas production, supply, storage and marketing system. In particular, after the establishment of the China Oil & Gas Piping Network Corporation (PipeChina), the infrastructure interconnection has accelerated, creating a sound environment for the construction of an international LNG online trading platform, said the SHPGX.
Meanwhile, the big data generated by international LNG online trading will play an important reference role for the development of the global LNG market. With the development of the business, the SHPGX will speed up the launch of the price index for the international LNG market so as to provide a "bellwether" for international LNG trade. (Edited by Hu Pingchao with Xinhua Silk Road, hupingchao@xinhua.org)
A single purchase
