BEIJING, Oct. 14 (Xinhua) -- China’s Shanghai Petroleum and Natural Gas Exchange (SHPGX), a national oil and gas trading center, is scheduled to introduce international LNG tender service on October 30, in order to meet needs of LNG market players.
CNOOC, the country’s largest offshore oil developer, is expected to use this service to invite bidders for its international LNG tender, said the SHPGX.
According to the exchange, registered members could initiate LNG spot, mid or long term LNG purchase or sales tender at the exchange’s international LNG online trading system.
The SHPGX said that it will mull over group purchasing service for small-sized LNG purchasers in accordance with market demand.
The exchange started trial operation of its international LNG online trading system on August 28, when Sinopec and CNOOC respectively reached LNG purchase deals with their foreign counterparts through the system, with total trade volume at 130,000 tonnes.
The SHPGX is pushing forward the member registration at the system. It has organized a number of road shows for both international suppliers and domestic customers. (Edited by Jiang Yujuan, jiangyj@xinhua.org)
A single purchase
