A total of 65,000 metric tons of liquefied natural gas (LNG) was unloaded on May 16 from Marweh carrier at the Dapeng LNG receiving station in South China's Guangdong Province, marking the completion of the first shipment of cross-border yuan-settled LNG.
The yuan-settled LNG trade agreement was reached at the Shanghai Petroleum and Natural Gas Exchange this March between CNOOC and Total Energies.
The LNG carrier, carrying LNG from the United Arab Emirates arrived at the receiving station on May 15 after a 26-day journey. After gasification, the LNG will be sent to power plants and terminal users, providing stable gas supply to the Guangdong-Hong Kong-Macao Greater Bay Area.
As one of the main buyers in the global LNG market, China has been improving its LNG infrastructure in recent years. According to the General Administration of Customs, China imported more than 500 million tons of crude oil and more than 100 million tons of natural gas in 2022, among which the LNG imports were 63.44 million tons.
Staff members at China National Offshore Oil Corporation (CNOOC) said that the yuan-settled international LNG trade is expected to promote docking between the international and Chinese markets and highly-efficient circulation of the two kinds of resources.
The recently-completed yuan-settled LNG trade is a practical exploration for CNOOC in boosting global development of energy trade and building a diversified ecology of LNG trade.
(Executive editor: Xie Yunxiao)
