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 engage in a  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 to the markets in Hong Kong, Macao and mainland China. 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 parties will strengthen collaboration in areas including energy trading, technological innovation and brand building in order to explore the market of comprehensive utilization of oil and gas and to contribute to maintain the national energy security. 

The signing of this agreement is an important part of Sam Group’s completion of its strategical layout in the clean energy industry. Based on the principle of mutual benefit and win-win development, the two sides will further give full play to their advantages to achieve powerful alliance, and advance the market-oriented trading of petroleum for purpose of contributing to the establishment and improvement of a sustainable, green, and low-carbon economic system.