France Buys 65,000 Tons Of LNG From China In First Ever Yuan-Denominated Trade

France bought 65,000 tons of LNG using the Chinese yuan

The liquified natural gas was bought from the UAE, the payment is settled in the Shanghai Petroleum and Natural Gas Exchange, using Chinese yuan

We are witnessing the end of the US dollar hegemony. pic.twitter.com/GfX17nKxA1

— Zhao DaShuai 无条件爱国🇨🇳 (@zhao_dashuai) March 29, 2023

• France Buys 65,000 Tons Of LNG From China In First Ever Yuan-Denominated Trade
  by Tyler Durden, https://www.zerohedge.com/
  China has just completed its first trade of liquefied natural gas (LNG) settled in yuan, the Shanghai Petroleum and Natural Gas Exchange said on Tuesday. As OilPrice notes, the Chinese state oil and gas giant CNOOC and TotalEnergies completed the first LNG trade on the exchange with settlement in the Chinese currency, the exchange said in a statement carried by Reuters.
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  The trade involved around 65,000 tons of LNG imported from the United Arab Emirates (because China will never admit that it is re-exporting Russian LNG even though it now does it all the time) the Shanghai Petroleum and Natural Gas Exchange added. The French supermajor, one of the world’s top LNG traders, confirmed to Reuters that the trade involved LNG imported from the UAE, but declined to comment further on the deal. 
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  China has been looking for years to establish more trade deals in yuan to increase the relevance of the petroyuan (or LNG-yuan as the case may be) on the global markets and challenge the U.S. dollar’s dominance in international trade, including in energy trade. During a landmark visit to Riyadh in December, Chinese President Xi Jinping said that China and the Arab Gulf nations should use the Shanghai Petroleum and National Gas Exchange as a platform to carry out yuan settlement of oil and gas trades.
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  read more.

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