BEIJING, Oct. 30 (Xinhua) -- China’s Shanghai Petroleum and Natural Gas Exchange (SHPGX), a national oil and gas trading center, launches international LNG tender service at its online international LNG trading system on Friday to meet purchase and sales demands of LNG market players from both domestic and international markets.
Sinopec and CNOOC, two oil and gas giants in China, announced their purchase tenders at the exchange’s online international LNG trading system on Friday.
According to their plans, the two domestic oil majors will purchase a couple of cargos of LNG from the international market in the next few months, including one cargo of LNG for CR Gas, one of the top town gas companies in China. A number of foreign gas suppliers, including Total, Mitsui & Co., Glencore, RWE and Aramco Trading, are invited to participate in these tenders.
SHPGX started trial operation of its online international LNG trading system on August 28, when Sinopec and CNOOC respectively reached LNG purchase deals with their foreign counterparts through the bidding service on the system, with total trade volume at 130,000 tonnes.
In regard to the tender service, registered members of the exchange could initiate spot, mid or long term LNG purchase or sales tender at the exchange’s online international LNG trading system, said the SHPGX.
The exchange is also mulling over group purchasing service for small-sized LNG buyers in accordance with market demand. （Edited by Jiang Yujuan, jiangyj@xinhua.org）
A single purchase
