The Shanghai Petroleum and Natural Gas Exchange (SHPGX), which is registered in the Shanghai free trade zone, will initially only handle natural gas transactions during a test run.
SHPGX, a ten-party joint venture platform enables the oil traders to bid and negotiate directly online, bypassing the government's interference on prices and sales volume.
"The SHPGX aims to be an excellent natural gas distribution hub like the Henry Hub in the US and the National Balancing Point in the UK,” director of the platform building team Guo Xu said in a statement.
“It
