Town-gas operators in southwest China's Sichuan province and Chongqing municipality are likely to purchase natural gas through Shanghai Petroleum and Natural Gas Exchange (SHPGX), a jointly funded platform to prompt oil and gas reform and enhance China's gas pricing power, according to a recent report by Shanghai Securities News.
PetroChina Southwest Oil & Gas Field Company, a subsidiary of China's top oil and natural gas producer PetroChina (PTR.NYSE; 00857.HK; 601857.SH), recently held a meeting with 24 downstream players on online trading via SHPGX.
As the largest gas supplier in southwest China, PetroChina Southwest Oil & Gas Field Company sold 19 billion cubic meters of natural gas in 2014. Located in China (Shanghai) Pilot Free Trade Zone, SHPGX came into trial operation on July 1 and has seen increasing trading volumes.
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