油价低位震荡期间中国进口LNG定价机制改革思考

Thoughts on pricing mechanism reform of Chinese LNG imports during the low fluctuation of oil prices

中国大多数LNG长贸协议价格与日本进口原油综合价格挂钩,与国内销售价格长期倒挂,损失严重。未来全球LNG供应充足,中国将成为全球LNG进口和天然气消费第一大国,有必要在油价低位震荡窗口期推动LNG定价机制改革,以显著降低LNG进口销售价格倒挂造成的经济损失,进一步完善中国LNG进口定价机制。本文全面分析了全球进口LNG定价机制和四个主要影响因素,并提出三点改革建议:中国企业抱团LNG现货和长期贸易协议谈判,依托交易中心构建中国天然气定价指数;进一步拓展LNG进口重点资源国及其进口量,提高进口议价能力;新签LNG合同加大离岸价合同比例,并扩大与中国LNG运输公司战略联盟。

The pricing of most Chinese long-term agreement of LNG is linked to the Japan Crude Cocktail(JCC),and the domestic gate price is inversion in relation to imported price for a long time, the importer encountered serious losses.In the future, the global LNG supply will be sufficient, and China will become the largest country in global LNG import and natural gas consumption.It is necessary to promote the reform of LNG pricing mechanism during the low oil price fluctuated window, which can not only significantly reduce the economic losses caused by price inversion, but also improve Chinese LNG import pricing mechanism.This paper comprehensively analyzes the global LNG import pricing mechanism and four main influencing factors, puts forward three reform suggestions.Chinese oil companies should unite in LNG spot and long-term trade contract negotiations, and build Chinese natural gas pricing index based on establishing the trading center.Further expanding resource countries of LNG import, that can improve import bargaining power.Increasing the proportion of FOB contracts in newly signed LNG contracts, expanding the strategic alliance with Chinese LNG transportation companies.