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

Events>

<< Apr 2019 >>
MTWTFSS
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 1 2 3 4 5

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >

Central and Eastern Europe SSLNG Forum

SSLNG projects are important for Central and Eastern Europe (CEE) because they offer opportunities for solving issues…

read more >

Klaipeda LNG Forum 2019

Klaipėda LNG forum 2019 organised by Klaipėda Science and Technology Park, Klaipėdos nafta and Embassy of the Netherlands will take place on the 15-16 May at Klaipėda Castle’s site hall, Lithuania.

read more >

Flame 2019

Flame is Europe’s largest gathering of midstream gas & LNG players, bringing together everyone who matters – from producers to utilities, purchasers, infrastructure providers, traders, regulators and policy makers.

 

More info

read more >