Oil and gas cooperation between China and Central Asia in an environment of political and resource competition

This paper investigates Central Asia＇s oil and gas resources, special geopolitics and energy competition, and approaches, challenges and prospects in cooperation between China and Central Asia. The objective is to propose measures for oil and gas cooperation between China and Central Asia. Central Asia is rich in oil and gas resources. Its remaining recoverable reserves of crude oil and natural gas account for 1.9% and 10.6 %, respectively, of the world＇s total reserves. Moreover, there is great exploration and development potential. As a strategic channel connecting Eurasia, Central Asia has a prominent geopolitical status. Many powerful countries such as the United States, Russia and China, as well as Europe, have an intense energy competition in Central Asia. In the oil and gas cooperation with Central Asia, the China National Petroleum Corporation （CNPC） focuses on establishing a coordination group, promoting overall oil and gas business opportunities and sustainable development, innovating and applying specialty engineering technology and improving project economic benefits. Through its efforts over the last nearly two decades, the China National Petroleum Corporation has completed a 50-million-tonne a year oil and gas production centre in Central Asia and oil and gas pipelines passing through multiple countries, becoming an important channel for securing China＇s energy imports. If appropriate measures are taken in the ＇Thirteenth Five-Year Plan＇ period or later, the China National Petroleum Corporation will develop a 100-million-tonne p.a. oil and gas production centre in Central Asia and a strategic oil and gas import channel exceeding this amount of production. This cooperation between China and Central Asia is however faced with the following challenges： increasing multinational competition uncertainty, potential risks in the political systems of Central Asian countries, frequently occurring violence and also resource policy tightening in Central Asia. To further oil and gas cooperation with Central Asia, it is recommended that China should develop an energy acquisition strategy, assign a regional energy ambassador, enhance oil and gas supply by mergers and acquisitions, establish regional multinational subsidiaries and improve its risk prevention system.

Deepening Oil and Gas Cooperation in Central Asia Against the Background of the Belt and Road Initiative

Energy cooperation is an important part of building the Belt and Road,and Central Asia is the core area of oil and gas cooperation on the Belt and Road route.As one of the first enterprises to“go global”,CNPC has made positive progress in oil and gas cooperation with Belt and Road countries.Exploring oil and gas cooperation in Central Asia in the new situation is of great practical significance for jointly building the Belt and Road,promoting regional cooperation and ensuring China's energy safety.

Analysis of China＇s International Oil and Gas Cooperation Environment under the Belt and Road Initiative

China's Belt and Road Initiative has great significance for China's energy security and the economic development of the countries along the route of the Belt and Road Initiative. Focusing on oil and gas cooperation, the paper aims to define the political, economic, legal, and operational conditions required to facilitate the development of the Belt and Road Initiative by analyzing the advantages, disadvantages, opportunities and risks of China's current international oil and gas cooperation environment. This will help to drive China's international oil and gas partnerships and increase China's discourse power in the international oil and gas markets by exploring new approaches to improving regional communication mechanisms, financial cooperation frameworks, multilateral legal systems and overall strength of the enterprises in the oil and gas industry.

Deepening China-Russia Oil and Gas Cooperation and Working together for an Energy Silk Road——Speech at the Special Conferenee for "Crossroads on the Silk Road"

I am very glad to be here in beautiful Vladivostok for the 4th Eastern Economic Forum and the special conference for “Crossroads on the Silk Road”.As we all know,President Xi Jinping proposed the Belt and Road Initiative in September 2013,which has been positively responded to and participated in by Russia;China and Russia proposed to build a comprehensive strategic partnership in May 2014 and further deepened this partnership in 2017;also,in May 2014,Russia proposed the establishment of the “Eurasian Economic Union” and started this effort in 2016;in June 2016,President Xi Jinping and President Putin proposed the establishment of a comprehensive partnership between Europe and Asia to jointly promote cooperation between Europe and Asia;at the SCO Qingdao Summit in this June,the heads of state of China and Russia once again pledged to work together on the international stage.

Sino-Russia Oil and Gas Cooperation Shows Wider Perspective

China and Russia are two countries of important consequences in the world, which are also amicable neighboring countries. In recent years, not only good neighboring amity between the two countries has been developed and consolidated in politics, but also an historic significant step has been reached in aspect of economic cooperation.

CNPC Beefs up Cooperative Development for Onshore Oil and Gas Fields

ＣＮＰＣＢｅｅｆｓｕｐＣｏｏｐｅｒａｔｉｖｅＤｅｖｅｌｏｐｍｅｎｔｆｏｒＯｎｓｈｏｒｅＯｉｌａｎｄＧａｓＦｉｅｌｄｓＣｕｉＹａｏｎａｎ，（ＶｉｃｅＣｈｉｅｆＥｎｇｉｎｅｅｒｏｆＩｎｔｅｒｎａｔｉｏｎａｌＥｘｐｌｏｒａｔｉｏｎａｎｄＤｅｖｅｌｏｐｍｅｎ...

Influence of The Belt and Road Initiative on Oil and Gas Infrastructure

China has proposed the ＂Belt and Road Initiative （B＆R）＂ in 2013. One its core strategies is international oil/gas cooperation. This paper addresses the status quo of cooperation on oil/gas infrastructure with countries along the line of ＂B＆R＇, anticipahs the cooperatiorl prospect. On this basis, the author analyzes China＇s advantages and cooperation basis in this domain, conceives the practical way of cooperation on oil/gas infrastructure with countries along the line of ＂B＆R＇. This paper also elaborates on tlre potential risks, risk evaluation criteria and risk corr trol in oil/gas infrastructu re cooperation with countries tries along tire line of ＂B＆R＂.

Bargaining strategy of oil companies in international oil and gas development Projects-Based on a bilateral bargaining model

Bargaining between the host country and oil companies is very common to international oil and gas development projects.The existence of information asymmetry gives the host country an endogenous bargaining advantage.Foreign oil companies might change their unfavorable negotiating position by changing the order of bidding and adjusting bidding strategies.This paper introduces both factors into a bilateral bargaining model to study the impact of information asymmetry and bidding order on the strategy and equilibrium returns of oil companies.According to the ownership of the right to bid first,two scenarios are designed for the model to compare the equilibrium returns of the host country and oil companies.The results show that:1)There is a first-mover advantage in the process of bilateral bidding,so oil companies better bid first;2)The information asymmetry will lead to a higher nominal income ratio of oil companies and a lower nominal income ratio of the host country,but it doesn’t affect the total income ratio at all.

Current Status and Trends for Oil and Gas Corridor Construction in China

Based on the analysis that the oil and gas cooperation is facing new situation under the background of the Belt and Road Initiative,this paper discusses the status quo of oil and gas pipeline construction in China. It's pointed out that the four major transnational strategic oil and gas corridors in the northwest,northeast, southwest and the eastern offshore areas of China have been formed.By the end of 2017,China's transport capacity for onshore oil and gas import had reached 73 million tons and 89 billion cubic meters respectively,and the oil handling capacity and liquefied gas (LNG)receiving capacity of coastal terminals had reached 600 million tons and 64.40 million tons respectively.The paper forecasts the future development trend of oil and gas corridor construction in China,and puts forward the following relevant suggestions:the international oil and gas trade shall be further developed to form a diversified and balanced import system;the offshore oil and gas development strategies shall be formulated at national level to lay the foundation for sharing and utilizing overseas oil and gas resources;the comprehensive and multi-functional synergic security systera shall be established to safeguard the energy import and energy corridors;the oil and gas security forecasting and early warning mechanism shall be improved to form hierarchical and multilevel early warning and emergency response measures.

Energy Cooperation along the Belt and Road: Status-quo, Problems and Suggestions

The "Belt and Road Initiative"was proposed by China in order to deepen international cooperation. The promotion of this initiative will have a positive and far-reaching impact on the sustainable development of China's economy.Energy cooperation has become an important part of China's opening up to the outside world. It is of great sign^cance in safeguarding national security,ensuring stable supply of energy,improving China's rights of speech in international energy markets,and helping China's energy companies to "go global".So far, energy cooperation along the Belt and Road has achieved a good start.Oil and gas companies such as CNPC and Sinopec have moved very fast in overseas cooperation,and new energy companies are actively following up.In order to achieve practical results in China's energy cooperation,this paper analyzesseveral problems and puts forward policy proposals.

New Challenges,New Opportunities and New Measures for Oil and Gas Cooperation in the Belt and Road

First-mover advantage and solid foundation of oil and gas cooperation is very important to the Belt and Road Initiative.Deeply studied opportunities and challenges of oil and gas cooperation have far-reaching significance to the cooperation in other industries in the Belt and Road.In this article,based on the systematic analysis of the oil and gas supply security,investment environment,regional win-win situation in oil and gas cooperation,new opportunities and challenges about upstream,pipeline,refining,trade,warehousing,engineering technology and equipment are studied.Enhancing capacities in four areas and implementing the 16 measures are given for deepening oil and gas cooperation in the future.Meanwhile,this article also gives suggestions and cooperation directions for countries and companies.

Seizing the Opportunity of Belt and Road Construction to Promote Energy Finance Market Construction

The significant progress achieved in energy cooperation along the "Belt and Road"route has provided a strategic opportunity for promoting the energy finance market.In line with the trend of global energy transformation and international energy pattern adjustment,to promote the formation of a more inclusive regional international energy trade system,accelerating the internationalization of the RMB.Using the launch of Shanghai crude oil futures as an opportunity,we will actively develop the energy finance derivatives market of oil,natural gas and other commodities,thus enhancing China's ability to obtain the value at the high-end segment of the global energy industry chain.

Maintaining Cooperation within Competition:The Inevitable Path of China’s Energy Cooperation in the Middle East

The multi-polarization of political situation creates beneficial conditions for Chinese petroleum corporations to enter foreign market of prospecting and drilling of oil and natural gas resources.Chinese petroleum corporations should adopt“Outward Expansion”strategy and directly participate in international gaming over the cooperative development and drilling of overseas oil and natural gas resources.On this aspect,the government should not only enhance its macro strategic guidance to Chinese petroleum corporations,but also offer more support by means of preferential policies so as to provide more encouragement to these corporations.Furthermore,the government should strengthen its toughness and intensity on its extension of energy diplomacy.In order to make some achievement in the reform and evolution of geopolitical pattern concerning energy of the world,China should maximize its national interest on energy strategy through“cooperation against the background of competition,”so as to obtain a guarantee on the stable and safe long-term supply of overseas energy for sustained development and smooth rise of China.The model of“Cooperation against the Background of Competition”not only fits for the domestic conditions of China,but also suits the trend of development on the energy market of the world.