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LNG becomes the next “energy outlet” for energy development

Sources:This site | Release date: 2018-04-12 | Browsing volume:
Key words:LNG becomes the next “energy outlet” for energy development
In recent years, China's LNG imports have maintained a rapid growth. According to data from the General Administration of Customs, China’s natural gas import volume was 60.8 billion cubic meters in 2014, an increase of 7.2 billion cubic meters from 2013, a year-on-year increase of 13.4%. Among them, imported pipeline gas reached 33 billion cubic meters, an increase of 4.4 billion cubic meters from 2013, an increase of 11.4% year-on-year; imported LNG was 19.89 million tons, equivalent to approximately 27.8 billion cubic meters of natural gas, an increase of 2.8 billion cubic meters over the previous year, an increase of 11.2% over the previous year. %.
At the same time, the growth of domestic natural gas consumption has gradually slowed down. In 2014, China’s natural gas consumption was 183 billion cubic meters, an increase of 8.9% year-on-year, and the growth rate was below double digits for the first time in 10 years. As market demand shrank, LNG export terminals ushered in a concentrated construction period, and the global LNG market has shown a surplus. Since 2014, China's LNG market has begun to supply more than it needs, and there has been no significant improvement in 2015.
Under this background, LNG processing companies that use raw gas from above as raw materials are facing difficulties.
“The price of LNG processed by pipeline gas is very high, and there is no competitive advantage compared with LNG imported directly from abroad. Therefore, the prospects are not optimistic.” Guo Jiaofeng said that imported LNG with price advantage would be relatively large. Prospects and competitiveness.
The future is very likely to be privatized
Although the overcapacity of LNG becomes more obvious and the economy is eroded by low oil and gas prices, the outlook for the future of the LNG industry is still optimistic. According to "BP 2035 Energy Outlook", the global demand for natural gas is expected to increase at an annual rate of 1.9%. By 2035, the daily demand for natural gas will reach 490 billion cubic feet.
"China's natural gas imports will continue to increase. It is estimated that by 2020, the import volume of LNG will reach 70 billion cubic meters." Guo Jiaofeng said.
Lu Feng, head of the Legal Affairs and Product Group of the Shanghai International Energy Trading Center's International Business Group, said that at present, China's natural gas futures must have the delivery capabilities and infrastructure that have been continuously optimized and improved. Market-oriented reform policies have continued to land. With the advancement of new policies, it is expected that natural gas marketization will achieve greater improvement and improvement in the coming years.
According to Liu Bing, partner of LNG Fund, co-founder of Genting Technology and investor of Zhonghao Holdings, the overall situation of LNG is now shifting from supply-supply to phase-loose supply. The birth of Genting Technology is just right. “We have seen the future opportunities for LNG, including the liberalization of private oil and gas import and export rights and the relaxation of market pricing power control, as well as mixed ownership, the combination of institutional capital and external mechanisms.”
"I think that LNG is the most likely type of energy to be privatized. Whether it is in the ownership structure or in every step after exploration and exploitation, 50% of LNG liquefaction projects are private, and 68% of gas stations are private. One hundred percent of the gasification plants are private, and one hundred percent of the cart drivers are privately owned. This structure naturally has the power to break through the planned barriers through market means."

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