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Global impact of uncertainties in China's gas market

机译:中国天然气市场不确定性的全球影响

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摘要

This paper examines the uncertainties in Chinese gas markets, analyze the reasons and quantify their impact on the world gas market. A literature review found significant variability among the outlooks on China's gas sector. Further assessment found that uncertainties in economic growth, structural change in markets, environmental regulations, price and institutional changes contribute to the uncertainties. The analysis of China's demand and supply uncertainties with a world gas-trading model found significant changes in global production, trade patterns and spot prices, with pipeline exporters being most affected. China's domestic production and pipeline imports from Central Asia are the major buffers that can offset much of the uncertainties. The study finds an asymmetric phenomenon. Pipeline imports are responding to China's uncertainties in both low and high demand scenarios while LNG imports are only responding to high demand scenario. The major reasons are higher TOP levels and the current practice of import only up to the minimum TOP levels for LNG, as well as a lack of liberalized gas markets. The study shows that it is necessary to create LNG markets that can respond to market dynamics, through either a reduction of TOP levels or change of pricing mechanisms to hub indexation.
机译:本文研究了中国天然气市场的不确定性,分析了原因并量化了它们对世界天然气市场的影响。一篇文献综述发现,中国天然气行业的前景存在很大差异。进一步的评估发现,经济增长,市场结构变化,环境法规,价格和制度变化的不确定性是造成不确定性的原因。使用世界天然气贸易模型对中国的供需不确定性进行分析后发现,全球生产,贸易模式和现货价格发生了重大变化,管道出口商受到的影响最大。中国从中亚的国内生产和管道进口是可以抵消许多不确定性的主要缓冲。研究发现不对称现象。管道进口正在响应中国在低需求和高需求情况下的不确定性,而液化天然气进口仅在响应高需求情况下。主要原因是最高TOP水平较高,而目前的进口做法仅达到LNG的最低TOP水平,并且缺乏自由化的天然气市场。该研究表明,有必要通过降低TOP水平或将定价机制更改为枢纽指数,来创建能够应对市场动态的LNG市场。

著录项

  • 来源
    《Energy Policy》 |2017年第5期|382-394|共13页
  • 作者单位

    Univ Technol Sydney, Australia China Relat Inst, 15 Broadway, Sydney, NSW 2007, Australia|Natl Univ Singapore, Energy Studies Inst, 29 Heng Mui Keng Terrace,10-01,Bld A, Singapore 119620, Singapore;

    Natl Univ Singapore, Energy Studies Inst, 29 Heng Mui Keng Terrace,10-01,Bld A, Singapore 119620, Singapore;

    Natl Univ Singapore, Energy Studies Inst, 29 Heng Mui Keng Terrace,10-01,Bld A, Singapore 119620, Singapore;

  • 收录信息 美国《科学引文索引》(SCI);美国《工程索引》(EI);
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

    Natural gas; Gas market; China; Uncertainty;

    机译:天然气;天然气市场;中国;不确定性;

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