对我国建立天然气衍生品市场的思考

我国目前的天然气流通机制和价格管理方式落后于天然气工业及市场的发展,建立天然气衍生品市场是我国未来天然气流通机制和价格体系的改革之路.目前东北亚地区没有一个能够反映天然气供需、形成机制公开透明的指标性的市场化价格.为控制价格风险和保障供应,建立健全我国天然气衍生品市场具有战略意义.按照目前我国天然气管线和液化天然气接收站的建设规划,广东省更有可能成为我国重要的天然气定价基点之一.我国液化天然气(槽车运输)市场开放度较高,且已经存在一定规模的现货交易,建议近期上市液化天然气衍生品品种,为以后上市管道天然气现货及衍生品品种做好试点.

Prospects for natural qas derivatives in China

The ultimate goal of the gas flow mechanism and the price-management methods driving development of China’s natural gas industry and natural gas derivatives market is reform of the natural gas distribution and pricing system.Northeast Asia has no mechanism for forming open and transparent market price indicators of supply and demand in order to control price risk,assure supply,and establish a healthy domestic natural gas derivatives market of strategic significance.Guangdong Province is likely to be a key location for a natural gas pricing hub given its proximity to planned natural gas pipelines and new and existing LNG facilities.As tanker-truck LNG is little regulated and is subject to a certain scale of spot trading,a pilot LNG derivatives market should be set up in the near future for this type of LNG after the listing of spot pipeline natural gas and pipeline natural gas derivatives.