Abaxx Exchange and Zhonggong Natural Gas Explore LNG Procurement Partnership

Core Insights - Abaxx Technologies Inc. announced a partnership with Zhonggong Petroleum & Natural Gas Co., Ltd. to explore liquefied natural gas (LNG) procurement and trading services [1][2] - The partnership aims to connect Zhonggong's LNG infrastructure investments in Shandong and Yunnan, totaling USD 640 million, with Abaxx Exchange's trading infrastructure and international supplier network [2][4] Company Overview - Abaxx Technologies is a financial software and market infrastructure company, and the majority shareholder of Abaxx Singapore, which owns Abaxx Exchange and Abaxx Clearing [1][6] - The company focuses on building markets that address societal challenges, including the energy transition, through better tools and technology [5][7] Partnership Objectives - The partnership will facilitate LNG procurement by connecting Zhonggong's infrastructure projects with overseas LNG imports via Abaxx Exchange [8] - It aims to enhance LNG price discovery and risk management by providing access to Abaxx's trading infrastructure and market data [8] - The collaboration will strengthen logistics coordination and market connectivity within China for LNG delivery and distribution [8] Market Context - China's growing LNG demand is reshaping global trade flows, emphasizing the need for reliable demand centers, as highlighted by Zhonggong's investments [4] - Abaxx Exchange has established a regulated marketplace and a physically-backed forward curve for LNG trading, which is crucial for connecting partners with international supply [4]