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SHPGX to launch international LNG ship and cargo tender service

The Shanghai Petroleum and Natural Gas Exchange (SHPGX) will launch an international LNG ship and cargo tender service by the end of this month.

SHPGX plans to start the international LNG ship and cargo tender service on 30 October to meet the demands from global LNG industry players and better utilise the markets and resources from domestic and overseas.

The exchange will look at trading models both for single ship and multi ship deals, as well as purchasing services for the smaller LNG industry players.

CNOOC, Chinas top offshore oil industry player, is expected to use the service for its international LNG business once the platform is up.

SHPGX started trial operation of international LNG online trading system on 28 August, when Sinopec and CNOOC respectively made LNG purchase deals totalling around 130,000 tonnes.

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