Tianjin International Oil and Gas Trading Center Launches Trial Operation

On December 28, TEDA Administrative Commission and the Tianjin International Oil and Gas Trading Center jointly held the launch ceremony for the trial operation of the Center. On the day of the event, the Center recorded a one-sided trading volume of over 8,400 tons and a one-sided transaction value of nearly 50 million yuan for LNG commodities. Various trading modes, including listed transaction, bidding transaction, warehouse receipt trading, and capacity pre-sale, all achieved successful transactions. During the trial operation, the Center will focus on the trading and settlement scenarios of LNG spot commodities. In 2024, it will gradually launch pipeline gas and various oil and gas auxiliary services such as pipe capacity, tank capacity, storage capacity, and other advantageous energy and chemical products in Tianjin. The Center aims to continuously expand the scale of market-oriented transactions.

The Tianjin International Oil and Gas Trading Center is approved by the Tianjin Municipal People’s Government. It is established as an internet trading platform to provide open and regular spot trading and settlement services for the buying and selling parties involved in various oil and gas commodities and services.