July 27, 2018 / 1:50 AM / 2 years ago

PetroChina Daqing to pay $12 mln fine for gas market monopoly

BEIJING, July 27 (Reuters) - PetroChina’s Daqing gas sales units have been fined a total 84.06 million yuan ($12.35 million) for anti-trust violations over the sale of compressed natural gas, China’s market regulator said on Friday.

PetroChina’s Daqing gas sales branch had reached a market monopoly agreement with 13 suppliers of compressed natural gas in cities such as Harbin, Qiqihaer and Daqing in Heilongjiang province, the State Administration for Market Regulation said in a statement.

Domestic liquefied natural gas (LNG) prices have surged amid lower domestic gas supplies.

$1 = 6.8084 Chinese yuan renminbi Reporting by Meng Meng and Aizhu Chen

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