Abaxx Exchange and Zhonggong Natural Gas Explore LNG Procurement Partnership

Core Viewpoint - Abaxx Technologies Inc. and Zhonggong Petroleum & Natural Gas Co., Ltd. are exploring a partnership focused on liquefied natural gas (LNG) procurement and trading services to enhance market access and pricing transparency in China [1][2][4]. Group 1: Partnership Details - The partnership aims to connect Zhonggong's LNG infrastructure investments of USD 640 million in Shandong and Yunnan with Abaxx Exchange's trading infrastructure and international supplier network [2][4]. - Key focus areas include establishing procurement channels for LNG, improving price discovery and risk management, and enhancing logistics connectivity between international suppliers and China's demand centers [8]. Group 2: Market Context - China's growing LNG demand is reshaping global trade flows, necessitating the development of reliable demand centers, as highlighted by Zhonggong's investments [4]. - Abaxx Exchange has created a regulated marketplace with a physically-backed forward curve for LNG trading, which is essential for better price discovery and market access [4][7]. Group 3: Company Overview - Abaxx Technologies is focused on building smarter markets through advanced financial technologies and market infrastructure, addressing challenges such as the energy transition [5][6]. - The company operates Abaxx Exchange and Abaxx Clearing, providing critical market infrastructure for various commodities, including LNG, carbon, and precious metals [7].