For the first time, a Chinese company conducted a transaction for the sale of liquefied natural gas (LNG), which was settled in yuan. The buyer was the French company TotalEnergies.
According to The Business Times, China National Offshore Oil Corporation (CNOOC) was the seller of the LNG. The deal was conducted through the Shanghai Oil and Natural Gas Exchange. In total, the Chinese side has sold 65 thousand tons of LNG, which were delivered from the United Arab Emirates.
As noted, CNOOC is the third largest oil corporation in China. It specializes in the production, processing and marketing of oil and natural gas in the PRC shelf and abroad. The headquarters of the state corporation is located in Beijing.