Zhenhua Oil Corporation sets up LNG unit

Zhenhua Oil Corporation sets up LNG unit
Illustration only. Image source: Pixabay under CC0 Creative Commons license.

Zhenhua Oil Corporation, a unit of China North Industries Group Corp, a defense conglomerate, has reportedly set up a liquefied natural gas unit.

Sources told Reuters that the company has established a team of five employees led by its head of crude oil trading, Yu Fengwei. The team would size up investment in LNG terminals and carry out trading activities of the chilled fuel.

It is said that the team will focus on the spot LNG market, and aims to secure liquefied natural gas supply deals with its partners in the oil industry or negotiate oil for LNG swap deals.

The LNG unit would also focus on investing in liquefied natural gas facilities in the domestic market.

The company is looking to grab a stake in the growing domestic LNG market following the government’s decision to boost the switch from coal to natural gas, and is aiming to establish partnerships with other state-owned companies like the pipeline operators.


LNG World News Staff

Share this article

Follow LNG World News


<< Dec 2019 >>
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

The 6th CWC China LNG & Gas International Exhibition & Summit

Following on from LNG 2019 and five successful editions in Beijing, the established China LNG & Gas International Exhibition & Summit…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >