基于页岩气资源禀赋特征的差异化补贴方式研究

Study of differential subsidy approach based on the resource endowment characteristics of shale gas

定额的页岩气产量补贴政策因未考虑资源禀赋特殊性,使得有限的补贴资金优先流向优质资源,导致我国页岩气开发的不均衡发展。基于此,提出一种以资源禀赋及开采条件为考量因素的差异化补贴方式,由基本补贴和可变补贴两部分组成,以有效地引导和激励页岩气开发企业的投资行为。首先,以保障企业基本收益率需求为前提,采用净现值法得到企业所需基本补贴。然后,依据委托代理理论构建政府与企业双方的收益函数,通过量化资源禀赋及开采条件与社会效益间的相关系数,得到可变补贴的测算模型,以及三种类型区块(黄金型、朝阳型、夕阳型)的可变补贴系数范围。研究结果表明:黄金型区块不需要任何补贴即可实现产量收益,朝阳型区块仅需基本补贴即可正常投资,是政府应重点扶持的对象,夕阳型区块是给予可变补贴的上限;可变补贴系数测算模型中的社会效益产出系数、资源禀赋及开采条件等不确定性因素变化所引起的结果波动范围在-6.88%~6.99%之间,证明该模型具有良好的稳健性。差异化补贴方式兼顾了不同页岩气区块政策实施的公平性,有望提高财政资金的使用效率,以及有效激励不同页岩气区块的均衡健康发展。

The fixed shale gas production subsidy policy does not take into account the specificity of resource endowment,which makes the limited subsidy funds flow to the high-quality resources in priority,leading to the unbalanced development of shale gas development in China.Based on this,a differential subsidy approach with resource endowment and exploitation conditions as the key factors is proposed,which consists of two parts:the basic subsidy and the variable subsidy,in order to effectively guide and incentivize the investment behavior of shale gas development enterprises.First,the basic subsidy required by enterprises is obtained by using the net present value method on the premise of guaranteeing their basic rate of return needs.Then,based on the principal-agent theory,it constructs the return functions of both the government and the enterprises,and by quantifying the correlation coefficients between resource endowment and exploitation conditions and social benefits,it obtains the measurement model of variable subsidy and the range of variable subsidy coefficients for three types of blocks(golden-type,sunrise-type,sunset-type).The results show that golden-type blocks can achieve production returns without any subsidies;sunrise-type blocks can be invested normally with only basic subsidies sunrise-type blocks are the objects that the government should focus on supporting;and sunset-type blocks are the upper limit of variable subsidies.The fluctuation range of the results caused by changes in uncertainties such as the output coefficients of social benefits,resource endowment and mining conditions in the variable subsidy coefficient model ranges from-6.88%to 6.99%,which proves that the model has a good robustness.The differential subsidy approach takes into account the fairness of the policy implementation of different shale gas blocks,and is expected to improve the efficiency of the use of financial funds,as well as effectively incentivize the balanced and healthy development of different shale gas blocks.