In what is a landmark development, China and France have completed an LNG gas trade using the Chinese yuan, thus ending the reliance on the US dollar for energy trades.
Moreover, Reuters reported that the transaction involving 65,000 tonnes of LNG from the UAE marked the first yuan-settled LNG trade through the Shanghai Petroleum and Natural Gas Exchange.
Chinese National oil company, CNOOC, and France’s TotalEnergies completed the transaction on Tuesday, according to reports.
Additionally, Energy World reported TotalEnergies confirmed the transaction “involved LNG imported from the UAE but did not comment further.”
Chinese National oil company, CNOOC, and France’s TotalEnergies completed the transaction on Tuesday, according to reports.
China and France have completed an LNG gas trade using the Chinese Yuan in a landmark transaction that ends the reliance on the US dollar in energy trades.
Moreover, the development showcases the growing prominence of the yuan amidst the growing concern connected to the US dollar.
Full Link ( Here )
© CopyRights RawNews1st
