China Chalks Up Fresh Win for Yuan Internationalization With LNG Trade

What’s new: China has completed its first yuan-settled import of liquefied natural gas (LNG), marking another milestone in the currency’s use in the global energy trade.

State-owned China National Offshore Oil Corp. bought the LNG from France’s TotalEnergies Tuesday, according to the official Xinhua News Agency.

The transaction involved more than 60,000 tons of the fuel that originated from the United Arab Emirates and was completed on the Shanghai Petroleum and Natural Gas Exchange (SHPGX).