China gas trading platform inaugurated
China SHPGX, which first began trading in July 2015, is expected to achieve transactions in the range of 15 bcm (530 bcf) in 2016, having realised similar volumes during a 16-month test run. Going forward, annual trading volumes are forecast to reach 30 bcm (1.06 tcf), roughly equivalent to 16% of China’s total yearly gas consumption.
The exchange currently has 10 shareholders, including China National Offshore Oil Corporation (10%), China National Petroleum Corporation (10%), Huaneng Power International (5%) and Sinopec (10%).
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