Shanghai Petroleum and Natural Gas Exchange (SHPGX), a spot trading platform to prompt oil and gas reform and enhance China's gas pricing power, has seen increasing trading volumes since its trial operation on July 1, according to the SHPGX.
By Wednesday, SHPGX's trading volumes of pipeline natural gas and LNG totaled 2.56 billion cubic meters and 81,000 tonnes, respectively. Trading activities at the exchange is on the rise amid increasing demand in winter and government push for market-oriented pricing mechanism of natural gas.
The National Energy Administration would step up regulation on opening up of natural gas pipelines to the third parties and trading activities at SHPGX, according to an official with the NEA.
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