China first online spot transaction of liquid carbon dioxide was completed on the Dalian Petroleum Exchange

Recently, the country’s first online spot transaction of liquid carbon dioxide was completed on the Dalian Petroleum Exchange. 1,000 tons of liquid carbon dioxide in Daqing Oilfield were finally sold at a premium of 210 yuan per ton after three rounds of bidding on the Dalian Petroleum Exchange. This move has changed the traditional model of offline trading of gas products in the past, and opened up a new channel for the subsequent trading of liquid carbon dioxide in my country.

Liquid carbon dioxide is a precious resource, which can be widely used in mechanical processing, chemical synthesis, oil exploitation and other fields after purification. In recent years, the demand for liquid carbon dioxide in my country has been increasing year by year. This online spot transaction has opened up a new channel for the subsequent trading of liquid carbon dioxide in my country. “Liaohe Oilfield has a large number of reservoir units suitable for carbon dioxide flooding and storage, and has established a complete industrial chain of carbon capture, injection, and storage. We will use this transaction as a starting point, relying on the superior carbon dioxide storage of Liaohe Oilfield Geological conditions, and actively build a carbon asset and carbon emission trading center in Northeast China.” said Su Qilong, manager of Dalian Petroleum Exchange.

Dalian Petroleum Exchange is affiliated to Liaohe Oilfield. It is the only trading platform in the national petroleum system that has the qualification for spot online trading of petroleum and petrochemical products. It has supporting service functions such as spot trading, electronic trading, intelligent storage and transportation, and information release. In recent years, seven oil and gas field companies, including Daqing Oilfield, Changqing Oilfield, Xinjiang Oilfield, and Tarim Oilfield, have sold crude oil, calcined coke, stable light hydrocarbons, and liquid carbon dioxide on the Dalian Petroleum Exchange. Up to now, the exchange has carried out 402 online transactions of petroleum and petrochemical products, with a cumulative transaction volume of 1.848 million tons.