LNG市场的“亚洲溢价”问题分析及对策

Asian premium in LNG market and its countermeasures

长期以来,亚太地区的LNG进口价格相对于北美和欧洲地区存在着较高的溢价。为此,剖析了世界LNG市场"亚洲溢价"问题产生的原因:①与油价挂钩的LNG定价方式为原油的"亚洲溢价"向LNG转移提供了便利;②亚太地区LNG市场存在买方需求价格弹性较弱和市场有效分割的情况,出口国针对亚太地区采取了价格歧视。进一步综合分析的结果表明,受贸易限制以及液化及运输成本和地区供需差异等因素影响,LNG的"亚洲溢价"短期内难以消除,但未来新增的澳大利亚、美国、加拿大、莫桑比克等LNG供应将有助于缩小世界LNG市场的地区价差。针对LNG的"亚洲溢价"现象,中国可以采取的对策如下:①加强国内外资源开发利用,增强资源保障能力;②构建多元化的进口格局,保障能源供应安全;③完善天然气储备体系,提高风险防御能力;④建立天然气交易中心,提高谈判议价能力;⑤综合原油的"亚洲溢价"问题,建立中国、日本、韩国联合议价机制。

Compared with North America and Europe, the premium on LNG import price has been higher in Asia-Pacific region for a long period. Therefore, this paper analyzes the reasons for the Asian premium in LNG market. Firstly, Asian premium is easily transferred to LNG from crude oil because LNG pricing is linked up with oil price. Secondly, price discrimination is applied to Asia- Pacific region by export countries, because the LNG markets in Asia-Pacific region are characterized by weaker buyer＇s demand price elasticity and effective market fragmentation. Further analysis suggests that it is hard to eliminate Asian premium on LNG in a short period due to trade restrictions, liquefaction and transportation costs, as well as supply and demand difference between regions, but the regional LNG price difference all over the world will be reduced as a result of new LNG supply from Australia, America, Cana- da, Mozambique and other countries. Facing Asian premium on LNG, China will take the following measures： （1） reinforce development and utilization of domestic and foreign resources and increase resources guarantee capacity; （2） establish diversified import patterns to ensure the safety of energy supply; （3） complete natural gas conservation system and improve risk defense capacity; （4） build natural gas trading center and increase price negotiation powers and （5） establish combined bargaining mechanism among China, Japan and Korea after comprehensively analyzing Asian premium on crude oil.