Shanghai Petroleum and Natural Gas Exchange Co., Ltd. went into formal operation on 26th November,20

The Ceremony of Shanghai Petroleum and Natural Gas Exchange Co., ltd.(SHPGX)’S formal operation and China oil and gas reform and development  forum was held on 26th November,2016. Xu Shaoshi, the director of the national  development and Reform Commission, Yang Xiong, the mayor of Shanghai,  Yang Hua, the chairman of CNOOC,Wang Yupu, the chairman of Sinopec, Wang Yilin, the chairman of CNPC etc. large energy companies have attended the  Forum. Meanwhile, Mr. Wu Jianxin the chairman of Shengquan Energy Oil and  Gas Group Company Ltd. atteded the forumas the registered member of SHPGX  as well.

                                                           Xu Shaoshi, the director of the national

development and Reform Commission     Yang Xiong, the mayor of Shanghai    Yang Hua, the chairman of CNOOC

Wu Jianxin, the chairman of Shengquan Energy Oiland Gas Group Company Ltd.(on the left)

        Wang Yupu, the chairman of Sinopec    Wang Yilin, the chairman of CNPC    Li Jian, the chairman of SHPGX

SHPGX release gas and oil price the same day.The price is expectedto become the price vane of the industry.

The on_line test run of SHPGX was from the 1st July 2015. The shareholder of  SHPGX is the Xinhua News Agency, CNPC, Sinopec, CNOOC, Shenergy,Beijing Gsa, ENN, China gas, Town Gas and China Huaneng Group the ten companies totally,  the registered capital is 1 billion yuan, the type is limited liability company  (domestic joint venture).Over the past year, SHPGX actively promote the natural  gas market transactions,the trading volumehas exceeded 30 billion cubic meters.  The industry influence appeared initially, and  has formal operating conditions.

Cai Mingzhao, the president of Xinhua News Agency said, Xinhua News Agency, which belongs to China's economic information agency, was actively involved in  the construction of the trading center,aiming toobtain timely, authoritative,  comprehensive oil and gas trading information andprovide professional energy  information products, in order to promote thehealthy and orderly development  of China's energy market better.