A Chinese company has made its first deal by selling liquefied natural gas (LNG) in yuan to French buyer TotalEnergies, Business Times reported, citing a statement from the Shanghai Oil and Gas Exchange.
China’s state-owned oil and gas company China National Offshore Oil Corporation (CNOOC) and France’s TotalEnergies have completed China’s first yuan-settled deal selling liquefied natural gas through the Shanghai Oil and Gas Exchange.
It was recorded that 65 thousand tons of LNG supplied from the UAE was sold.
CNOOC is China’s third largest oil company after CNPC and Sinopec. It was founded in Beijing in 1982. CNOOC is engaged in the production, processing and marketing of oil and natural gas off the coast of China and abroad.
French TotalEnergies is one of the largest energy companies in the world. It operates in more than 130 oil and gas producing countries in Europe, the Middle East and North Africa, the Asia-Pacific region and the Americas. The number of staff exceeds 100 thousand people.