Bottlenecks and pain points of China’s LNG development

Liquefied natural gas (LNG), as the most clean and low-temperature liquid low-carbon fossil energy source in the fossil energy system, has developed rapidly in China in the past decade and has gradually formed a complete system of LNG industry chain with Chinese characteristics for the future of China’s LNG industry. The chain is healthier and more sustainable, and it is very valuable to think deeply and reflect on previous development history and processes.

Integrated station pipeline gas-fired power plant integrated layout mode

Guangdong LNG is China’s first LNG receiving station. As an operator, BP has led the planning and design of the main framework of Guangdong LNG industry chain. The core main line of Guangdong LNG industry chain is the integrated layout mode of the receiving station pipeline gas-fired power plant, that is, the receiving station, pipeline and gas-fired power plant are simultaneously planned, constructed and put into operation at the same time. The practice of more than ten years proves that this mode is very successful and effective. . Although the urban gas user group, the industrial user group, and the vehicle-shipping user group are the base users of LNG, it is difficult to ensure the LNG receiving station as soon as the single user consumes less, disperses, and develops the amount of time. To achieve the design scale, only the gas-fired power plants and receiving stations with large gas consumption will be put into production at the same time for strategic coordination, so as to ensure the fulfillment of the LNG long-term contract and the function and efficiency of the LNG main industrial chain infrastructure.

Fujian LNG industry chain adheres to this strategic planning concept and develops very well. LNG receiving stations lacking coordinated gas-fired power plants or pipelines will experience several years of slow market development after commissioning, and bear losses and difficulties. . The author suggests that the new LNG receiving station will continue to adhere to this strategic planning concept as the best policy.

Receiving station pipeline equity diversification company formation model

Guangdong LNG shareholders were jointly established by CNOOC, BP, Shenzhen Gas, Hong Kong Hong Kong and China Gas, Guangzhou Gas, Dongguan Gas, Foshan Gas, Shenzhen Energy, Yudean and other upstream and downstream industrial chains, and adhered to the concept of equity diversification . LNG receiving stations and pipelines are the infrastructure bearers of the interest community in the industry chain. Shareholders play their own unique advantages in resources, engineering, market, capital, etc., and think about it, and make efforts to ensure the LNG industry chain logistics. Cash flow and smooth flow of information, Guangdong LNG development is very healthy, profitability is very good, and shareholders are very satisfied. This company’s formation model has enabled Guangdong LNG to be organically integrated into the local regional economy, with strong support from the government, users and the general public. Later, some LNG receiving stations abandoned the company’s formation model and even embarked on the sole proprietorship. It was quite difficult to develop in the initial stage of production. The author suggests that the new LNG receiving station should adhere to the diversification of equity, the formation of a community of interests, and effective integration into the local economy.

LNG receiving station location and scale strategic layout mode

For any coastal city with a coastline, waterways, ports, etc. are precious scarce resources that can be used less when used less. The inadequacy of Guangdong LNG strategic planning is that it is not expected that the development speed of LNG will be so fast. There can only be five LNG storage tanks in the layout of the mountain, which severely limits the development space of Guangdong LNG. If Guangdong LNG is based on a 30 million With the planning of the receiving station, the entire Diefu Valley is planned as a LNG storage tank group, which can fully meet the demand and leave the valuable coastline to develop the yacht dock better and more scientific. The current status quo is to build four LNG receiving stations of the same nature in Shenzhen’s precious coastline. The same nature is repelled. This is the basic principle. It is a great waste to the navigation channel, port, land, investment, and personnel. In the off-season, everyone’s days will not be better.

A coastal prefecture-level city to build an LNG receiving station, the state should clearly stipulate that only one LNG receiving station can be built. If the 10 million tons is not enough, it can be planned according to 2000 to 30 million tons, as long as the LNG receiving station tank area The planning of the gasification unit is large enough, and land reclamation is also possible. The author proposes to accept the planning defects of the LNG scale in Guangdong. The city that builds the LNG receiving station can only plan according to a large LNG receiving station, reducing the occupation and damage to the coastline, avoiding vicious competition between multiple receiving stations, and increasing the receiving station. Living space and profitability. Everyone wants to invest, and can diversify their equity and jointly invest in construction.

LNG low-cost purchase and low-cost asset mergers and acquisitions

China’s LNG development in the past decade has experienced low-cost purchases from oversupply of Guangdong LNG. The slope and constant of the long association are very beneficial to the buyer, and the shareholding is upstream. The price of the ceiling and the floor price are favorable to both buyers and sellers. In the history of LNG development in the world, very good low-cost purchases of long-term contracts. As the oil price rises, the LNG long-term negotiation is more and more favorable to the seller. The negotiator’s personal negotiation ability is stronger and the English level is higher. It is also impossible to obtain preferential terms for the buyer to purchase at a low price. More important than negotiation ability and foreign language level. Without the LNG long association, the construction of LNG receiving stations cannot be started. This management mode severely restricts the grasp of LNG low-cost purchase flexibility business opportunities. In fact, the construction of LNG purchase and receiving stations can be carried out separately.

Melamine

More than one hundred dollars of high oil prices, China has also experienced and participated in the madness of high-priced purchases, but also tasted the bitter fruit of high-priced LNG, the best way to obtain overseas LNG resources with high oil prices is PetroChina (8.170, -0.01, -0.12%) The company itself invests in the exploration and development of overseas natural gas fields and invests in the construction of its own LNG plant. Unfortunately, China National Petroleum Corporation does not have enough LNG liquefaction plants invested by itself. Only China National Petroleum Corporation owns sufficient natural gas resources and LNG produced by liquefaction plants to obtain the initiative of LNG strategic development. The LNG price is controlled by the complete industrial chain. The high-margin upstream profit is available to Chinese oil companies, and the ability is moderately reduced. The selling price in China.

During the low oil price period, due to the high oil price and large-scale overseas oil and gas upstream asset acquisition and LNG long association purchase, the oil price dropped after the loss. In addition to the small-scale actions of individual companies, most of the Chinese oil companies missed the buying opportunity and did not have enough competitive. The gas source and the state control the smog, win the blue sky to defend the war and carry out strategic synergy. After the coal reformed to force last winter, a gas shortage was formed. With the development of underground gas storage, the author suggests that the oil price should be less than 50 US dollars/barrel as the Chinese LNG Changxu, the acquisition of overseas LNG gas field resources and the liquefaction plant asset strategic opportunity period, one is the low price range, and also as the Chinese coal reform In the period of strategic development of gas development, the second is that even if it is not used in the off-season, it must be firm and large-scale low-priced purchases and stored in gas storage. In addition to supporting low-cost purchases, the state can also use solid foreign exchange reserves and directly participate in low-cost purchases, which are far more valuable and more valuable than the purchase of US debt.

LNG Ocean Shipping Fleet

The national cargo national transport, the national shipbuilding state, is a very good LNG ocean transport development concept. China has already overcome the crown jewel of LNG ocean-going shipbuilding industry. For China’s energy imports, importing low-carbon and clean LNG is far better than importing crude oil with heavy carbon pollution. Increasingly large, more and more LNG ocean shipping vessels are needed. Only China’s own LNG ocean shipping fleet is the most reliable, especially when the world’s LNG carriers are tight. China’s steel production plants are numerous, labor resources are abundant, and the construction of a large number of large-scale LNG ocean-going vessels can help China’s economic growth, solve employment and increase Chinese taxation. The key is to ensure the safety and sufficient capacity of China’s LNG ocean transportation. The author suggests that, except for a few cases, LNG ocean transportation must adhere to the national product of national shipments, and the national shipbuilding state is the basic principle of the supremacy of national interests.

Land transportation of LNG and natural gas

Benzalkonium chloride

LNG is only a natural gas logistics form. There is no LNG pure industrial chain. In developed countries such as Europe, America and Japan, the main natural gas transportation channel is natural gas pipeline. Every LNG transport vehicle, every LNG satellite station and storage tank group is a source of dangerous chemical explosion. Except for LNG liquid transportation for vehicle and ship filling, the LW liquid peak load usage and land transportation volume are as small as possible, so as to be minimized. Social insecurity. The pipeline is buried deep underground, which is safer than LNG land transportation. As long as the natural gas pipeline is sufficiently dense enough to meet the natural gas transportation needs of each city, it can be reached by pressure natural gas, and the transportation volume is lower, the transportation cost is lower. The main peaking infrastructure of natural gas is large-scale natural gas underground gas storage and large-scale storage tanks of coastal LNG receiving stations, instead of urban LNG satellite stations and LNG storage tanks, urban gas merchants, large industrial users, gas power plants, etc. With its own peak-regulating gas demand, it can be invested in the underground gas storage and LNG large-scale receiving stations to obtain the peaking gas protection.

In remote towns and towns with small gas consumption, the transportation cost of paving pipeline units is too high. It is appropriate to construct LNG satellite stations. After the gas volume is used up, the pipelines are economical and can be converted into pipeline transportation. The author suggests that for urban and social security, it is necessary to increase the investment in natural gas pipeline construction, establish that the pipeline is the main transportation channel for natural gas, and LNG is the LNG and natural gas logistics transportation concept that assists transportation channels.

In summary, LNG will play an important role in adjusting China’s energy structure, adjusting China’s power structure, adjusting China’s transportation structure, managing smog, winning blue sky defense, and building beautiful China. Every effort is made to reduce LNG purchase and acquisition costs, scientifically plan LNG receiving stations, pipelines, gas-fired power plants and other infrastructure, establish China’s own LNG transportation fleet, mobilize the enthusiasm of the LNG industry chain, and work together to build a good LNG industrial chain. The community of interests is a correct conclusion that should be derived from the history of the development of China’s LNG industry chain.

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