The Shanghai Oil and Gas Trading Center will choose the opportunity to launch refined oil trading

A few days ago, Fu Shaohua, deputy general manager of Shanghai Oil and Gas Trading Center, said that the trading center will continue to implement natural gas reform policies and measures, continue to promote LNG and pipeline gas bidding transactions, and at the same time increase new product research and development efforts, and choose the opportunity to launch new product transactions
such as refined oil.

In addition, the Exchange will also cooperate with relevant departments to implement the spirit of the "Several Opinions on Deepening the Reform of the Oil and Gas System", accelerate the construction of oil and gas trading platforms in accordance with laws and regulations, encourage qualified market entities to participate in transactions, form prices through market competition, and form fair and authoritative Chinese natural gas market prices
at an early date.

The Shanghai Oil and Gas Trading Center, which is about to celebrate the first anniversary of its official operation, is a product
of China's oil and gas market-oriented reform.
Over the past year, the trading volume of Shanghai Oil and Gas Trading Center has continued to grow
significantly.
The latest data shows that as of November 21, the trading center traded a total of 39.
6 billion cubic meters of natural gas (bilateral), an increase of 75%
year-on-year.
It is expected that the annual trading volume in 2017 will be close to 25 billion cubic meters, a year-on-year increase of 67%, accounting for about
11% of the country's natural gas consumption.

The index system is gradually improving
.
According to reports, the trading center has completed the design and release of China's LNG factory price index, China's South China LNG trading price index, and China's gasoline and diesel wholesale price index by using the exchange data of the trading platform and the over-the-counter trading data shared by members and the center, and is preparing the PNG price index, striving to gradually become the benchmark of China's oil and gas prices
.

At present, the number of trading center members has increased
significantly.
By the end of October 2017, it had developed nearly 1,500 members, a year-on-year increase of nearly 3 times
.

Fu Shaohua said that in order to implement the reform policy, the trading center actively coordinated upstream and downstream enterprises to enter the trading center, and in addition to listing transactions, it also launched LNG bidding special trading
since July this year.
By the end of October, the trading center had carried out 16 sessions of LNG bidding special trading, and the scope of transactions continued to expand, with a total transaction volume of 163,500 tons, nearly 1,000 transactions, and more than
100 enterprises participating in the transaction.

On the basis of LNG auction trading, the trading center also conducted 21 pipeline gas bidding trading pilots in September this year, with a total bidding volume of 788 million cubic meters
.
In this round of PNG auction transactions, all five major sales companies of PetroChina were online, and more than 1,000 users participated in the auction
.

Market participants of a natural gas sales company said that the fair and open online trading of natural gas through the trading center platform is first, the price information is more transparent and open, and the second is that the supply and demand situation responds in a timely manner, which is conducive to the marketization of
natural gas prices.