欧洲天然气交易枢纽发展经验及其对中国的启示

我国一直在推进天然气中国价格的建立,先后设立了两个天然气交易所,同时不断开放天然气市场。为了给中国天然气交易枢纽建设提供借鉴和参照,研究并总结了欧洲天然气交易枢纽发展的成功经验。结果表明:①欧洲天然气交易枢纽建设成功的经验包括市场自由化、竞争性的市场、管网的无歧视第三方接入、对居于主导地位企业行为的改革和管制等方面;②另外一些影响因素也非常重要,如国内天然气生产能力、贸易传统、多元化的供应以及市场供应过剩等;③政府推动政策法规变革、监管市场、改革自身的管理模式,在欧洲天然气枢纽的建设中也发挥了重要的作用。结论认为:①相对于欧洲而言,中国面临着既有利也有弊的条件,多源供应、国内生产能力、需求量增长等都是有利的因素,而市场化水平不高、基础设施薄弱、长协合同为主、一体化经营以及供应紧张等则是不利因素;②今后中国的工作重点应该是推进市场自由化、解绑行业以及推动第三方接入;③从微观方面来说,要通过建立交易枢纽、加强管网建设以及统筹发展期货现货市场等措施,在形成交易、期现货市场、价格报告机构和长期合同定价机制转型等方面夯实基础。

Experiences of developing European gas trading hubs and their implications for China

Making efforts to establish Chinese natural gas prices, China has built up two gas exchanges while opening its gas markets step by step. In view of this, this paper first studies and summarizes the successful experiences of developing European gas trading hubs in the following aspects: (1) necessary conditions like market liberalization, competitive market, non-discriminatory third-party access to pipeline, regulations and reforms on the dominant market players, etc. (2) natural conditions like domestic production, trade traditions, diversified supply, market surplus, etc. and (3) some other factors like reforms in policies and regulations, regulation of markets, change of governance, etc. Also, this paper provides good advices and references for the development of gas trading hubs in China. (1) Compared with Europe, China is now facing some favorable conditions (like multi-source supply, domestic production, demand increase, etc.) and unfavorable (like low marketization level, poor infrastructure, dominance of long-term contracts, vertically integrated operation, strained supply, etc.). (2) China should focus on promoting market liberalization, unbundling gas businesses and promoting the third-party access. (3) In particular, China should take such measures like defining gas trading hubs, improving gas grid construction, integrating the spots and futures markets, etc., and consolidating the foundation through trade creation, spots and futures markets, prices report agencies, and transition of long-term contract pricing mechanisms and so on.