CNOOC Gas and Power Group, a subsidiary of China National Offshore Oil Corporation, Tuesday sold pipeline natural gas for the first time at Shanghai Petroleum and Natural Gas Exchange (SHPGX), a spot trading platform to prompt oil and gas reform and enhance China's gas pricing power.
CNOOC Gas and Power Group sold 10 million cubic meters and 66 million cubic meters of pipeline natural gas on Tuesday and Wednesday, respectively. Delivery of the above-mentioned natural gas would start on January 1 of 2016 and end at January 31 of 2016 at Hengmen station in Zhongshan city.
CNOOC Gas and Power Group also started to sell LNG from Zhuhai LNG terminal through SHPGX. By now, Chinese three state-owned oil giants all list pipeline natural gas for sale at the spot trading exchange in Shanghai.
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