Shanghai Petroleum and Natural Gas Exchange
| Shanghai Petroleum and Natural Gas Exchange | |
| |
| Founded | 2021 |
|---|---|
| Headquarters | Shanghai |
| Key People | Ye Guobiao, Chairman |
| Products | Spot Index for LNG |
| Profile | |
| [https://www.shpgx.com www.shpgx.com Page] | |
The Shanghai Petroleum and Natural Gas Exchange is a state-backed exchange launched in September of 2021 with the introduction of pricing for spot pricing index for liquefied natural gas imports. [1]
The index is quoted in U.S. dollars per million British thermal units and will track prices on a delivered (ex-ship) basis of between 90,000 and 210,000 cubic million of LNG.[2]
SPHGX lists its philosophy and values as the following: historical responsibility, creative thinking, spirit of service and extraordinary character.[3]
History[edit]
The Shanghai Petroleum and Natural Gas Trading is a national energy trading platform approved by the Shanghai Municipal People's Government under the direct guidance of the National Development and Reform Commission and the National Energy Administration.
It officially began operations on November 26, 2016 after a trial operation began on July 1, 2015. It was registered and established in the Shanghai Free Trade Zone on March 4, 2015.
There are ten shareholders in the Shanghai Petroleum and Natural Gas Exchange. The shareholders with a registered capital of 10 100 million yuan in the limited liability company are:
- Xinhua News Agency
- PetroChina
- Sinopec
- CNOOC
- Shenergy Group
- Beijing Gas
- ENN Energy
- China Gas
- Ganghua Gas
- China Huaneng
Products and Services[edit]
- Spot Index for LNG
Key People[edit]
- Ye Guobiao - Chairman
References[edit]
- ↑ China's Shanghai gas exchange to launch LNG group purchasing by year-end. Reuters.
- ↑ China's Shanghai gas exchange launches spot pricing for imported LNG. Reuters.
- ↑ Philosophy and Values. Shanghai Petroleum and Natural Gas Exchange.