The organizing committee of IPEC holds a signing ceremony for major projects on Oct 18 in Zhoushan. [Photo/zjol.com.cn]

A total of 21 major projects worth 56.76 billion yuan ($8.02 billion) were signed on Oct 18 at the 3rd International Petroleum and Natural Gas Enterprises Conference (IPEC) in Zhoushan, East China's Zhejiang province.

The projects mainly focus on the petroleum and natural gas industrial chain, covering the storage, transportation and trading of oil products, as well as maritime services and other significant industries in the China (Zhejiang) Pilot Free Trade Zone (FTZ).

According to local authorities, among the 21 projects, six focus on oil trading, four on maritime services, four on procurement, three on the utilization of liquefied natural gas, three on the petrochemical industry, and one on the construction of headquarters economy.

Several of the projects have already been launched and are expected to have made significant progress by the end of 2019, according to the organizing committee of the conference.

The conference, jointly organized by the Zhejiang provincial government and Zhejiang FTZ administrative committee, with support from relevant national ministries and administrations such as the ministry of commerce, took place from Oct 17 to 19.