On February 17, at China + Central Asia (C+C5) Industry and Investment Cooperation Forum - Energy Cooperation Sub-Forum held in Qingdao, the Qingdao International Energy Exchange was officially inaugurated and put into operation. The completion and operation of this unified energy spot exchange platform in Shandong Province will further integrate all kinds of oil and gas resources in Shandong Province, improve the energy and chemical industry chain ecology, and help the opening of the entire oil and gas industry chain in the SCO Demonstration Area(SCODA), to deeply promote energy cooperation among the five Central Asia countries and countries along the the Belt and Road.
It is reported that the Qingdao International Energy Exchange is jointly built by the Administrative Committee of the SCODA and Shandong Port Group. Centering on the three main lines of energy exchange, supply chain finance and digital services, it integrates platform resources of the Qingdao Port Bulk Commodity Trading Center and the North China Oil and Gas Center to build a unified energy spot exchange platform in Shandong Province and carry out online exchange of oil, natural gas, LPG, fuel oil and other energy and chemical products. It will complement the functions of the futures market, jointly build a multi-level exchange market system, to provide standardized, specialized and international exchange scenarios and products for domestic and international energy industry chain enterprises, build energy factor resource allocation centers, and further improve the energy and chemical industry chain ecology.
The SCODA has the regional and innovative advantages of international investment and trade liberalization and facilitation. Taking logistics and transportation as an example, the SCODA has built a "sea, land and air railway" SCO International Hub Port, which can be engaged in the loading, unloading, transfer, storage and transportation of more than 20 kinds of goods, such as crude oil, refined oil and LNG.
The SCODA issued the Support Policy on Qingdao International Energy Exchange, which will fully support the construction of the Qingdao International Energy Exchange from seven aspects, including administrative approval services, supporting infrastructure, scaling up the transaction scale, and talent support.
Focusing on international energy cooperation, energy industry reform, and promoting the development of green economy, the forum comprehensively demonstrated the direction and potential of energy cooperation and industrial development in the SCODA. At the meeting, a number of strategic cooperation agreements were successfully signed to form a joint force. During the speech and dialogue, domestic and foreign industry representatives combined theory with examples from the current situation of cooperation in Central Asia countries and the trend of China's international economic cooperation, focusing on building local cooperation mechanisms, unblocking logistics channels, and exploring new modes of production capacity cooperation.
(By Yuan Yu)
