LNG

China National Offshore Oil Corp (CNOOC), the oil and gas company and LNG terminal owner, said it planned to conduct a liquefied natural gas cargo auction on April 18 on the Shanghai Petroleum and Gas Exchange as the region still awaits the emergence of a single benchmark price.

China plans to launch a second natural gas exchange in the southwest city of Chongqing by mid-2018, aiming to match efforts by Singapore and Japan to create an Asian price benchmark as the nation’s use of LNG and gas continues to rise.