Abstract : CNOOC, the country’s largest offshore oil developer, launches an international LNG purchase tender at the Shanghai Petroleum and Natural Gas Exchange (SHPGX) on December 4.
BEIJING, Dec. 7 (Xinhua) — CNOOC, the country’s largest offshore oil developer, launches an international LNG purchase tender at the Shanghai Petroleum and Natural Gas Exchange (SHPGX) on December 4.
According to the SHPGX’s announcement, CNOOC Gas and Power Group, a subsidiary of the offshore oil developer, plans to purchase overseas LNG through the SHPGX’s online international LNG trading system. About 16 foreign suppliers, including Total, Gazprom, Trafigura, and Novatek, will participate in the tender.
Registered members at the exchange could apply for the bid before 16:00 Beijing time on December 7, and the bidding result will be announced before 18:00 Beijing time on the same day.
It’s not the first time for the CNOOC to initiate the international LNG purchase tender at the exchange. When the SHPGX first introduced such service on October 30, the CNOOC and Sinopec announced their first LNG purchase tenders at the exchange, and then the CNOOC reached a purchase deal with Aramco Trading Singapore through the exchange on November 2.
The SHPGX has been promoting service innovation over the past years. It 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 system, with total trade volume at 130,000 tonnes.
The exchange said it was also mulling the establishment of a group purchasing service for small-sized LNG buyers in accordance with market demand. (Edited by Jiang Yujuan, email@example.com)
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Source: CNOOC initiates int’l LNG purchase tender at SHPGX