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China launches new oil and gas trading platform - Xinhua

Posted on 02 July 2015

A new trading platform for oil and gas was launched in China on Wednesday, state media reported, as the world’s largest energy consumer looks to extend its influence over global commodity pricing. The Shanghai Petroleum and Natural Gas Exchange (SHPGX), which is registered in the Shanghai free trade zone, will initially only handle natural gas transactions during a test run.
“We expect (gas) trading volumes at SHPGX would range from 5 billion cubic meters to 6 billion cubic meters in second half of 2015 and annual trading volumes at SHPGX would be more than 10 billion cubic meters in 2016,” Guo Xu, an official with SHPGX, was quoted as saying by the official Xinhua News Agency, which is a shareholder in the exchange………………………………………..Full Article: Source


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