Chinese Energy Provider ENN Using VeChainThor Blockchain To Track Natural Gas

Blockchain, News | July 25, 2019 By:

ENN Energy Holdings Limited, one of the largest energy service providers in China, is collaboarting with blockchain startup VeChain for optimized quality control and supply-chain management of natural gas.

ENN has been working with VeChain, an enterprise software designed to create, manage, maintain, and update shared data about products in the supply chain, and Shanghai Gas, a state-owned company that accounts for more than 90% of Shanghai’s total gas market, since 2018 to create a blockchain-based tracking solution for liquefied natural gas (LNG).

Under the partnership, ENN is responsible for the design and system construction of LNG-related business scenarios, while VeChain provides its public blockchain, VeChainThor, and the necessary software services. Shanghai Gas is the overseeing party who ensures the solution expands across the national LNG market.

The blockchain tracking solution was adopted by Zhoushan LNG Storage and Distribution Centre during the first phase prior to a full rollout. In this application, ENN uses a series of Internet of Things (IoT) devices in combination with VeChainThor. Upon arrival, the gas will be injected into different tanks, from there each tank of gas is assigned a tank number, associating with the relevant data stored on the blockchain, such as composition, quality, calorific value, and gasification rate of the natural gas.

Moving forward, ENN will work even more closely with VeChain to promote the model to other LNG projects and various business scenarios to generate value for both the real economy and the end consumers.

“We’re glad to have this opportunity to cooperate with innovative technology companies like VeChain to create new ways of trading and information processing for the energy industry, said Tao Zhou, ENN Deputy General Manager of Domestic Trade Group. “From our experience in the past year, the integration of blockchain into the energy industry is possible. I believe that in addition to the LNG business, the cooperation will also contribute to other businesses and products of ENN. We also hope that the community members would join us in promoting the business and further its presence on the market.”