This study considers the effect of Eichhornia Crassipes Biodiesel(ECB)blends on the performances,combustion,and emission characteristics of a direct injection compression ignition engine operated in a dual-fuel mode(D...This study considers the effect of Eichhornia Crassipes Biodiesel(ECB)blends on the performances,combustion,and emission characteristics of a direct injection compression ignition engine operated in a dual-fuel mode(DFM)and equipped with an Exhaust gas recirculation technique(EGR).In particular,a single-cylinder,four-stroke,water-cooled diesel engine was utilized and four modes of fuel operation were considered:mode I,the engine operated with an ordinary diesel fuel;mode II,the engine operated with the addition of 2.4 L/min of lique-fied petroleum gas(LPG)and 20%EGR;mode III,20%ECB with 2.4 L/min LPG and 20%EGR;mode IV,40%ECB with 2.4 L/min LPG and 20%EGR.The operation conditions were constant engine speed(1500 rpm),var-iation of load(25%,50%,75%,and 100%),full load,with a compression ratio of 18,and a time injection of 23°BTDC(Before top died center).With regard to engine emissions,carbon dioxide(CO_(2)),carbon monoxide(CO),hydrocarbons(UHC),and nitrogen oxide(NOX)were measured using a gas analyzer.The smoke opacity was measured using an OPABOX smoke meter.By comparing the results related to the different modes with mode I at full load,the BTE(Brake thermal efficiency)increased by 20.17%,11.45%,and 12.66%with modes II,III,and IV,respectively.In comparison to the results for mode II,the BTE decreased due to the combustion of ECB blends by 7.26%and 6.24%for mode III and mode IV,respectively,at full load.In comparison to mode II,the Brake specific energy consumption(BSEC)increased with the ECB substitution.With ECB blends,there is a noticeable decrease in the CO,CO_(2),and UHC emissions at a partial load.Furthermore,the 20%ECB has no effect on CO emissions at full load.For modes II and IV,the CO_(2)increased by 33.33%and 19%,respectively,while the UHC emissions were reduced by 14.49%for mode III and 26.08%for mode IV.The smoke of mode III was lower by 7.21%,but for mode IV,it was higher by 12.37%.In addition,with mode III and mode IV,the NOx emissions increased by 30.50%and 18.80%,respectively.展开更多
Tourmaline was modified with cerous nitrate and lanthanum nitrate by coprecipitation method. Through characterization by differential thermal analysis, transmission electron microscopy, X-ray diffraction, and Fourier ...Tourmaline was modified with cerous nitrate and lanthanum nitrate by coprecipitation method. Through characterization by differential thermal analysis, transmission electron microscopy, X-ray diffraction, and Fourier transform infrared spectroscopy, it was found that the tourmaline modified with La-doped nano-CeOhad a better far infrared emitting property than the tourmaline modified with CeO2, which depended on La enhancing the redox properties of CeO, leaded to much more oxidation of Fe2+ to Fe3+ in the tourmaline. Based on the results of the water boiling test, it was found that the tourmaline modified with La-doped nano-CeOcould decrease the consumption of liquefied petroleum gas, which resulted from the tourmaline modified with La-doped nano-CeOdecreasing the molecular clusters volume of liquefied petroleum gas and combustion-supporting air.展开更多
A liquefied petroleum gas (LPG) sensor with high selectivity, sensitivity and low power consumption has been developed based on indium oxide with very low resistance. Nanocrystalline In203 gas sensing materials were...A liquefied petroleum gas (LPG) sensor with high selectivity, sensitivity and low power consumption has been developed based on indium oxide with very low resistance. Nanocrystalline In203 gas sensing materials were directly synthesized through a one-step controllable solvothermal process at 210 ℃ for 24 h, using InCI3.4H2O as the starting material, cetyltrimethyl ammonium bromide (CTAB) as additive and ethanol as the solvent. The obtained samples were characterized by X-ray diffraction (XRD), and transmission electron microscopy (TEM). The results showed that indium oxide takes on uniform cubic shape with range size of 10~30 nm and fine dispersivity. Gas sensitivity was measured in a mixing static gas. The results indicated that 3.0 V is the best working voltage of the sensor to LPG. Sensitivity is 12.6. The response-time and recovery-time are 3 s and 10 s respectively. Power consumption is only around 200 mW.展开更多
Temperature distribution and control have been investigated in a liquefiedpetroleum gas (LPG) fluidized bed with hollow corundum spheres (A1_2O_3) of 0.867-1.212 mm indiameter at moderately high temperatures (800-1100...Temperature distribution and control have been investigated in a liquefiedpetroleum gas (LPG) fluidized bed with hollow corundum spheres (A1_2O_3) of 0.867-1.212 mm indiameter at moderately high temperatures (800-1100℃). Experiments were carried out for the airconsumption coefficient α in the range of 0.3 to 1.0 and the fluidization number N in the range of1.3 to 3.0. Particle properties, initial bed height, α and N all affect temperature distribution inthe bed. Bed temperature can be adjusted about 200℃ by combined the adjusting of α and N.展开更多
This paper presents a quantitative risk analysis of liquefied petroleum gas(LPG)transportation.An accident that happened on June 13,2020,on the highway near Wenling,China is studied as a case.In this accident,LPG carr...This paper presents a quantitative risk analysis of liquefied petroleum gas(LPG)transportation.An accident that happened on June 13,2020,on the highway near Wenling,China is studied as a case.In this accident,LPG carried by a tank truck on the highway leaked and caused a large explosion,which led to 20 deaths.Different methods are combined to calculate the consequence of the accident.Multi-energy model and rupture of vessel model are employed to calculate the overpressure;the simulation result of the multi-energy model is closer to the damage caused by the accident.The safety distances in accidents of LPG transport storage tanks of different capacities are calculated in this study;the results show that the damage of explosion will increase with the filling degree of the tank.Even though the filling degree is 90%(value required by law),the 99%fatality rate range will reach 42 m,which is higher than regulated distance between road and building.The social risk of the tank truck has also been calculated and the results show that the risk is not acceptable.The calculating method used in this study could evaluate the risk of LPG tanker more accurately,which may contribute to the establishment of transportation regulation so that losses from similar accidents in the future could be reduced.展开更多
With the widespread application of liquefied petroleum gas (LPG),the safety of LPG cylinder has received more and more attention.For the safety of LPG cylinder,we conduct a safety risk assessment of cylinder using the...With the widespread application of liquefied petroleum gas (LPG),the safety of LPG cylinder has received more and more attention.For the safety of LPG cylinder,we conduct a safety risk assessment of cylinder using the failure mode and effect analysis (FMEA) method.Taking the most influential inflatable fatigue under normal conditions as the research object,we use FE-safe software to analyze the fatigue failure.The risk compliance coefficients of various failure modes are calculated and classified according to the risk level.In this way,the service life of the LPG cylinder weld is determined.The presented method improves the safety risk assessment process of LPG cylinder and provides a good theoretical and practical basis for similar pressure vessel risk assessment.展开更多
Direct synthesis of liquefied petroleum gas (LPG) from syngas was carried out over hybrid catalyst consisting of methanol synthesis catalyst and modified Y zeolite with Pd and Ca by different methods. The decrease o...Direct synthesis of liquefied petroleum gas (LPG) from syngas was carried out over hybrid catalyst consisting of methanol synthesis catalyst and modified Y zeolite with Pd and Ca by different methods. The decrease of CO conversion was mostly attributable to the sintering of Cu in methanol synthesis catalyst. On the other hand, coke deposition on Y zeolite was the reason for the decrease of LPG selectivity. The introduction of Ca decreased the strong acid sites of Y zeolite, suppressed coke formation, and thus improved the stability of hybrid catalyst.展开更多
Underground storage in rock caverns is widely used in Norway for many different petroleum products,such as crude oil,fuel,propane and butane.Basically,the caverns for such storages are unlined,i.e.containment is ensur...Underground storage in rock caverns is widely used in Norway for many different petroleum products,such as crude oil,fuel,propane and butane.Basically,the caverns for such storages are unlined,i.e.containment is ensured without using any steel lining or membrane.The main basis for the storage technology originates from the extensive hydropower development in Norway.As part of this activity,about 4500 km of tunnels and shafts have been excavated,and around 200 large powerhouse caverns have been constructed.The hydropower tunnels are mainly unlined,with hydrostatic water pressure on unlined rock of up to 1000 m.Some of the projects also include air cushion chambers with volumes of up to 1×10^(5)m^(3)and air pressure up to 7.7 MPa.Many lessons which are valuable also for underground oil and gas storage have been learnt from these projects.For a storage project to become successful,systematic,well planned design and ground investigation procedures are crucial.The main steps of the design procedure are first to define the optimum location of the project,and then to optimize orientation,shape/geometry and dimensions of caverns and tunnels.As part of the procedure,ground investigations have to be carried out at several steps integrated with the progress of design.The investigation and design procedures,and the great significance of these for the project to become successful will be discussed.Case examples of oil and gas storage in unlined rock caverns are given,illustrating the relevancy of experience from high-pressure hydropower projects for planning and design of unlined caverns for oil and gas storage.展开更多
In order to present a retrospective analysis of exposition accidents using input data from investigation processes,data from a specific accident was examined,in which we analyzed possible involved gas species( liquef...In order to present a retrospective analysis of exposition accidents using input data from investigation processes,data from a specific accident was examined,in which we analyzed possible involved gas species( liquefied petroleum gas; nature gas) and computed their concentrations and distributions based on the interactions between the structures and the effects of the explosion. In this study,5 scenarios were created to analyze the impact effect. Moreover,a coupling algorithm was put into practice,with a practical outflow boundary and joint strength are applied. Finally,the damage effects of each scenario were simulated. Our experimental results showed significant differences in the 5 scenarios concerning the damage effects on the building structures. The results from scenario 3 agree with the accident characteristics,demonstrating the effectiveness of our proposed modeling method. Our proposed method reflects gas properties,species and the concentration and distribution,and the simulated results validates the root cause,process,and consequences of accidental explosions. Furthermore,this method describes the evolution process of explosions in different building structures. Significantly,our model demonstrates the quantatative explosion effect of factors like gas species,gas volumes,and distributions of gases on explosion results. In this study,a feasible,effective,and quantitative method for structure safety is defined,which is helpful to accelerate the development of safer site regulations.展开更多
Enlarging the fleet of gas carriers would make it possible to respond to the growing demand for hydrocarbon gases,but it will increase carbon dioxide emissions.The International Maritime Organization(IMO)has developed...Enlarging the fleet of gas carriers would make it possible to respond to the growing demand for hydrocarbon gases,but it will increase carbon dioxide emissions.The International Maritime Organization(IMO)has developed the energy efficiency design index(EEDI)with the objective of carbon emission reduction for new ships.In this paper,thirty gas carriers transporting liquefied natural gas(LNG)and liquefied petroleum gas(LPG)and equipped with various types of main engines are considered.As shown by the calculation of the attained EEDI,2 of the 13 LPG carriers and 6 of the 17 LNG carriers under study do not comply with the EEDI requirements.To meet the stringent EEDI requirements,applying thermochemical regenerators(TCRs)fed by main engine exhaust gases is suggested.Mathematical modeling is applied to analyze the characteristics of the combined gas-turbine-electric and diesel-electric power plant with thermochemical recuperation of the exhaust gas heat.Utilizing TCR on gas carriers with engines fueled by syngas produced from boil-off gas(BOG)reduces the carbon content by 35%and provides the energy efficiency required by IMO without the use of other technologies.展开更多
In 2016,China's net imports of crude oil increased to 378.3 million tons and its net exports of product oil soared to 20.45 million tons.Refinery crude runs continue to grow at a low rate,and the domestic product ...In 2016,China's net imports of crude oil increased to 378.3 million tons and its net exports of product oil soared to 20.45 million tons.Refinery crude runs continue to grow at a low rate,and the domestic product oil market still has a supply surplus.Diesel consumption fell for the first time in 21 years.The liquefied petroleum gas(LPG) market continues to grow rapidly,spurred on by feedstock demand for chemicals and gasoline blending components,and imports of LPG have reached a record high of 16.12 million tons.The refinery throughput of Petro China and SINOPEC had declined for 2 consecutive years,but crude oil imports climbed to a new high of 381 million tons as independent refineries boosted their utilization of capacity and the domestic oilfields produced a decreased amount of output.Imported oil now accounts for more than 2/3 of the Chinese market compared to being only about 1/3 15 years ago.Moreover,the proportion of imported crude in refinery runs has risen to 70%.In 2017,China's economy will continue to face substantial pressure,and domestic demand for product oil will continue to grow slowly.展开更多
China became the world's second largest liquefied natural gas(LNG)importer in 2018 but has faced extremely high import costs due to a lack of bargaining power.Assessments of the Shanghai LNG Price Index,first rele...China became the world's second largest liquefied natural gas(LNG)importer in 2018 but has faced extremely high import costs due to a lack of bargaining power.Assessments of the Shanghai LNG Price Index,first released in 2015,are vital for improving the understanding of these cost dynamics.This paper,using the LNG price index data from the Shanghai Petroleum and Gas Exchange(SHPGX)coupled with domestic and international LNG prices from July 1,2015 to December 31,2018,estimates several econometric models to evaluate the long-term and short-term equilibriums of the Shanghai LNG Price Index,the responses to market information shocks and the leading or lagging relationships with LNG and alternative energy prices from other agencies.The results show that the LNG price index of the SHPGX has already exhibited a long-term equilibrium and short-term adjustment mechanisms to reflect the average price level and market movements,but the market information transparency and price discovery efficiency of the index are still inadequate.China's LNG market is still relatively independent of other natural gas markets,and marketization reforms are under way in China.The influence of the SHPGX LNG price index on the trading decisions of market participants is expected to improve with further development of China's LNG reforms,the formation of a natural gas entry-exit system,and the increasing liquidity of the hub.展开更多
文摘This study considers the effect of Eichhornia Crassipes Biodiesel(ECB)blends on the performances,combustion,and emission characteristics of a direct injection compression ignition engine operated in a dual-fuel mode(DFM)and equipped with an Exhaust gas recirculation technique(EGR).In particular,a single-cylinder,four-stroke,water-cooled diesel engine was utilized and four modes of fuel operation were considered:mode I,the engine operated with an ordinary diesel fuel;mode II,the engine operated with the addition of 2.4 L/min of lique-fied petroleum gas(LPG)and 20%EGR;mode III,20%ECB with 2.4 L/min LPG and 20%EGR;mode IV,40%ECB with 2.4 L/min LPG and 20%EGR.The operation conditions were constant engine speed(1500 rpm),var-iation of load(25%,50%,75%,and 100%),full load,with a compression ratio of 18,and a time injection of 23°BTDC(Before top died center).With regard to engine emissions,carbon dioxide(CO_(2)),carbon monoxide(CO),hydrocarbons(UHC),and nitrogen oxide(NOX)were measured using a gas analyzer.The smoke opacity was measured using an OPABOX smoke meter.By comparing the results related to the different modes with mode I at full load,the BTE(Brake thermal efficiency)increased by 20.17%,11.45%,and 12.66%with modes II,III,and IV,respectively.In comparison to the results for mode II,the BTE decreased due to the combustion of ECB blends by 7.26%and 6.24%for mode III and mode IV,respectively,at full load.In comparison to mode II,the Brake specific energy consumption(BSEC)increased with the ECB substitution.With ECB blends,there is a noticeable decrease in the CO,CO_(2),and UHC emissions at a partial load.Furthermore,the 20%ECB has no effect on CO emissions at full load.For modes II and IV,the CO_(2)increased by 33.33%and 19%,respectively,while the UHC emissions were reduced by 14.49%for mode III and 26.08%for mode IV.The smoke of mode III was lower by 7.21%,but for mode IV,it was higher by 12.37%.In addition,with mode III and mode IV,the NOx emissions increased by 30.50%and 18.80%,respectively.
基金the Key Technologies R &D Programme of Tianjin (06YFGZGX02400)
文摘Tourmaline was modified with cerous nitrate and lanthanum nitrate by coprecipitation method. Through characterization by differential thermal analysis, transmission electron microscopy, X-ray diffraction, and Fourier transform infrared spectroscopy, it was found that the tourmaline modified with La-doped nano-CeOhad a better far infrared emitting property than the tourmaline modified with CeO2, which depended on La enhancing the redox properties of CeO, leaded to much more oxidation of Fe2+ to Fe3+ in the tourmaline. Based on the results of the water boiling test, it was found that the tourmaline modified with La-doped nano-CeOcould decrease the consumption of liquefied petroleum gas, which resulted from the tourmaline modified with La-doped nano-CeOdecreasing the molecular clusters volume of liquefied petroleum gas and combustion-supporting air.
基金supported by the National Natural Science Foundation of China (Grant No.20471055)
文摘A liquefied petroleum gas (LPG) sensor with high selectivity, sensitivity and low power consumption has been developed based on indium oxide with very low resistance. Nanocrystalline In203 gas sensing materials were directly synthesized through a one-step controllable solvothermal process at 210 ℃ for 24 h, using InCI3.4H2O as the starting material, cetyltrimethyl ammonium bromide (CTAB) as additive and ethanol as the solvent. The obtained samples were characterized by X-ray diffraction (XRD), and transmission electron microscopy (TEM). The results showed that indium oxide takes on uniform cubic shape with range size of 10~30 nm and fine dispersivity. Gas sensitivity was measured in a mixing static gas. The results indicated that 3.0 V is the best working voltage of the sensor to LPG. Sensitivity is 12.6. The response-time and recovery-time are 3 s and 10 s respectively. Power consumption is only around 200 mW.
基金This work was financially suppoded by the Key Project Foundation for Science and Technology Research by the Education Ministry of China (No.00020).
文摘Temperature distribution and control have been investigated in a liquefiedpetroleum gas (LPG) fluidized bed with hollow corundum spheres (A1_2O_3) of 0.867-1.212 mm indiameter at moderately high temperatures (800-1100℃). Experiments were carried out for the airconsumption coefficient α in the range of 0.3 to 1.0 and the fluidization number N in the range of1.3 to 3.0. Particle properties, initial bed height, α and N all affect temperature distribution inthe bed. Bed temperature can be adjusted about 200℃ by combined the adjusting of α and N.
基金the Research Project of National Engineering Research Center for Petroleum Refining Technology and Catalyst(RIPP,SINOPEC)the National Key Research and Development Program of China(No.2018YFC0808600)。
文摘This paper presents a quantitative risk analysis of liquefied petroleum gas(LPG)transportation.An accident that happened on June 13,2020,on the highway near Wenling,China is studied as a case.In this accident,LPG carried by a tank truck on the highway leaked and caused a large explosion,which led to 20 deaths.Different methods are combined to calculate the consequence of the accident.Multi-energy model and rupture of vessel model are employed to calculate the overpressure;the simulation result of the multi-energy model is closer to the damage caused by the accident.The safety distances in accidents of LPG transport storage tanks of different capacities are calculated in this study;the results show that the damage of explosion will increase with the filling degree of the tank.Even though the filling degree is 90%(value required by law),the 99%fatality rate range will reach 42 m,which is higher than regulated distance between road and building.The social risk of the tank truck has also been calculated and the results show that the risk is not acceptable.The calculating method used in this study could evaluate the risk of LPG tanker more accurately,which may contribute to the establishment of transportation regulation so that losses from similar accidents in the future could be reduced.
文摘With the widespread application of liquefied petroleum gas (LPG),the safety of LPG cylinder has received more and more attention.For the safety of LPG cylinder,we conduct a safety risk assessment of cylinder using the failure mode and effect analysis (FMEA) method.Taking the most influential inflatable fatigue under normal conditions as the research object,we use FE-safe software to analyze the fatigue failure.The risk compliance coefficients of various failure modes are calculated and classified according to the risk level.In this way,the service life of the LPG cylinder weld is determined.The presented method improves the safety risk assessment process of LPG cylinder and provides a good theoretical and practical basis for similar pressure vessel risk assessment.
基金supported by the National Key Technology R & D Program of China(No.2011BAD22B06)BP Company through the Clean Energy Facing the Future Program at Dalian Institute of Chemical Physics
文摘Direct synthesis of liquefied petroleum gas (LPG) from syngas was carried out over hybrid catalyst consisting of methanol synthesis catalyst and modified Y zeolite with Pd and Ca by different methods. The decrease of CO conversion was mostly attributable to the sintering of Cu in methanol synthesis catalyst. On the other hand, coke deposition on Y zeolite was the reason for the decrease of LPG selectivity. The introduction of Ca decreased the strong acid sites of Y zeolite, suppressed coke formation, and thus improved the stability of hybrid catalyst.
文摘Underground storage in rock caverns is widely used in Norway for many different petroleum products,such as crude oil,fuel,propane and butane.Basically,the caverns for such storages are unlined,i.e.containment is ensured without using any steel lining or membrane.The main basis for the storage technology originates from the extensive hydropower development in Norway.As part of this activity,about 4500 km of tunnels and shafts have been excavated,and around 200 large powerhouse caverns have been constructed.The hydropower tunnels are mainly unlined,with hydrostatic water pressure on unlined rock of up to 1000 m.Some of the projects also include air cushion chambers with volumes of up to 1×10^(5)m^(3)and air pressure up to 7.7 MPa.Many lessons which are valuable also for underground oil and gas storage have been learnt from these projects.For a storage project to become successful,systematic,well planned design and ground investigation procedures are crucial.The main steps of the design procedure are first to define the optimum location of the project,and then to optimize orientation,shape/geometry and dimensions of caverns and tunnels.As part of the procedure,ground investigations have to be carried out at several steps integrated with the progress of design.The investigation and design procedures,and the great significance of these for the project to become successful will be discussed.Case examples of oil and gas storage in unlined rock caverns are given,illustrating the relevancy of experience from high-pressure hydropower projects for planning and design of unlined caverns for oil and gas storage.
基金Supported by the National Natural Science Foundation of China(E041003)the Fundamental Research Funds for the Central Universities(FRF-TP-15-105A1)the Postdoctoral Science Foundation of China(2015M580049)
文摘In order to present a retrospective analysis of exposition accidents using input data from investigation processes,data from a specific accident was examined,in which we analyzed possible involved gas species( liquefied petroleum gas; nature gas) and computed their concentrations and distributions based on the interactions between the structures and the effects of the explosion. In this study,5 scenarios were created to analyze the impact effect. Moreover,a coupling algorithm was put into practice,with a practical outflow boundary and joint strength are applied. Finally,the damage effects of each scenario were simulated. Our experimental results showed significant differences in the 5 scenarios concerning the damage effects on the building structures. The results from scenario 3 agree with the accident characteristics,demonstrating the effectiveness of our proposed modeling method. Our proposed method reflects gas properties,species and the concentration and distribution,and the simulated results validates the root cause,process,and consequences of accidental explosions. Furthermore,this method describes the evolution process of explosions in different building structures. Significantly,our model demonstrates the quantatative explosion effect of factors like gas species,gas volumes,and distributions of gases on explosion results. In this study,a feasible,effective,and quantitative method for structure safety is defined,which is helpful to accelerate the development of safer site regulations.
文摘Enlarging the fleet of gas carriers would make it possible to respond to the growing demand for hydrocarbon gases,but it will increase carbon dioxide emissions.The International Maritime Organization(IMO)has developed the energy efficiency design index(EEDI)with the objective of carbon emission reduction for new ships.In this paper,thirty gas carriers transporting liquefied natural gas(LNG)and liquefied petroleum gas(LPG)and equipped with various types of main engines are considered.As shown by the calculation of the attained EEDI,2 of the 13 LPG carriers and 6 of the 17 LNG carriers under study do not comply with the EEDI requirements.To meet the stringent EEDI requirements,applying thermochemical regenerators(TCRs)fed by main engine exhaust gases is suggested.Mathematical modeling is applied to analyze the characteristics of the combined gas-turbine-electric and diesel-electric power plant with thermochemical recuperation of the exhaust gas heat.Utilizing TCR on gas carriers with engines fueled by syngas produced from boil-off gas(BOG)reduces the carbon content by 35%and provides the energy efficiency required by IMO without the use of other technologies.
文摘In 2016,China's net imports of crude oil increased to 378.3 million tons and its net exports of product oil soared to 20.45 million tons.Refinery crude runs continue to grow at a low rate,and the domestic product oil market still has a supply surplus.Diesel consumption fell for the first time in 21 years.The liquefied petroleum gas(LPG) market continues to grow rapidly,spurred on by feedstock demand for chemicals and gasoline blending components,and imports of LPG have reached a record high of 16.12 million tons.The refinery throughput of Petro China and SINOPEC had declined for 2 consecutive years,but crude oil imports climbed to a new high of 381 million tons as independent refineries boosted their utilization of capacity and the domestic oilfields produced a decreased amount of output.Imported oil now accounts for more than 2/3 of the Chinese market compared to being only about 1/3 15 years ago.Moreover,the proportion of imported crude in refinery runs has risen to 70%.In 2017,China's economy will continue to face substantial pressure,and domestic demand for product oil will continue to grow slowly.
基金the Postdoctoral Science Foundation of China(Grant No.2018M641289)the Science Foundation of China University of Petroleum Beijing(No.ZX20200109)the China Scholarship Council.
文摘China became the world's second largest liquefied natural gas(LNG)importer in 2018 but has faced extremely high import costs due to a lack of bargaining power.Assessments of the Shanghai LNG Price Index,first released in 2015,are vital for improving the understanding of these cost dynamics.This paper,using the LNG price index data from the Shanghai Petroleum and Gas Exchange(SHPGX)coupled with domestic and international LNG prices from July 1,2015 to December 31,2018,estimates several econometric models to evaluate the long-term and short-term equilibriums of the Shanghai LNG Price Index,the responses to market information shocks and the leading or lagging relationships with LNG and alternative energy prices from other agencies.The results show that the LNG price index of the SHPGX has already exhibited a long-term equilibrium and short-term adjustment mechanisms to reflect the average price level and market movements,but the market information transparency and price discovery efficiency of the index are still inadequate.China's LNG market is still relatively independent of other natural gas markets,and marketization reforms are under way in China.The influence of the SHPGX LNG price index on the trading decisions of market participants is expected to improve with further development of China's LNG reforms,the formation of a natural gas entry-exit system,and the increasing liquidity of the hub.