The first cross-border payment of LNG ship cargoes through "Cross-border Connect" has been completed, expanding new scenarios for RMB settlement in oil and gas trade.

According to information from the Shanghai Petroleum and Natural Gas Exchange, the LNG ship cargo "Cross-Border Pass" product jointly launched by China National Offshore Oil & Gas Group Limited and the Shanghai Petroleum and Natural Gas Exchange successfully completed its first round of transactions on June 26th. Several city gas companies, domestic second and third-tier natural gas traders, and end users participated in this round of transactions, and successfully reached the first full ship "Cross-Border Pass" LNG cargo resources, with transactions settled in RMB.