The Zhejiang Natural Gas Trading Market Co, also known as the Zhejiang Natural Gas Trading Center, was inaugurated in Putuo Finance Town, Zhoushan, East China's Zhejiang province on Dec 28, local media reported.

It is the first natural gas trading company in Zhejiang and the fifth in China. The company completed its first online transaction – 118 million cubic meters of natural gas – on the same day.

"The Zhejiang Natural Gas Trading Center is expected to trade 3 billion cubic meters of natural gas in 2021, worth a total of 6 billion yuan," said a senior staff member of China (Zhejiang) Pilot Free Trade Zone.

The trading center is also expected to have a trade value of more than 60 billion yuan ($9.2 billion) over the next five years and will be constructed into the largest natural gas trading center in East China, the staff member added.

The company, with a registered capital of 100 million yuan, was invested by the China National Offshore Oil Corp, Zhejiang Mercantile Exchange, ENN Group, Zhejiang Energy Group, and Shanghai Petroleum and Natural Gas Exchange.

The official operation of the natural gas trading company epitomizes Putuo Finance Town's efforts to attract investment this year. Official statistics show that in the first 11 months, Putuo Finance Town brought in 135 companies and 2.45 billion yuan in investment from outside Zhoushan.