[Group]China Sam Enterprise Group Signed a Cooperation Framework Agreement with Macao Guangdong Hong Kong Macao Greater Bay Area Petroleum and Natural Gas Trading Center
Recently, China Sam Enterprise Group Limited (hereinafter referred to as “Sam Group”) signed a cooperation framework agreement with Macao Guangdong Hong Kong Macao Greater Bay Area Petroleum and Natural Gas Trading Center Co., Ltd. The two sides will carry out in-depth cooperation in the fields of overseas natural gas procurement, distribution and the comprehensive utilization of LNG projects, so as to jointly explore the domestic natural gas market.
Macao Guangdong Hong Kong Macao Greater Bay Area Petroleum and Natural Gas Trading Center was established in March 2020 with the approval of Macao S.A.R. government. It is a spot trading platform connecting domestic and international LNG markets. Operated by the independent third party, it provides third-party standard trading contracts which are recognized internationally . It formulates standard LNG Trading Agreement for online transactions and assists in strict delivery.
With the third-party platform advantages and Macao's financial (payment) convenience, Macao Guangdong Hong Kong Macao Greater Bay Area Petroleum and Natural Gas Trading Center provides low-cost and stable overseas petroleum and natural gas supply for Hong Kong, Macao and the mainland markets. Sam Group has deeply developed in the petroleum and natural gas industry for years, and has built two LNG storage and distribution stations in eastern China. The two sides will improve collaboration in energy trading, technological innovation and brand building, and jointly develop the petroleum and natural gas market to maintain the national energy security.
By signing the agreement, Sam Group has taken an important step for developing clean energy strategically. Based on the principle of mutual benefit and win-win development, the two sides will give full play to their advantages to realize strong alliance, and contribute to the establishment and improvement of an industrial system geared toward green, low-carbon, and sustainability.