Development Status and Prospects of the Natural Gas Industry in China

The year 2017 saw explosive growth in China's natural gas market, and the apparent consumption was 235.7 billion cubic meters, up 18.2% over the same period of 2016. In 2017, China's domestic production growth picked up significantly, reaching 145.3 billion cubic meters, an increase of 9%.Natural gas imports grew rapidly, and imported pipeline gas and imported LNG totaled 91.6 billion cubic meters. The trade volume of LNG surpassed that of pipeline gas for the first time since 2012. In 2018, the macro-economy is expected to maintain growth at a moderate-to-high rate. However, driven by favorable factors such as environmental policies, China's demand for natural gas is expected to continue to grow rapidly, and natural gas consumption will maintain double-digit growth, roughly at 12%. Nevertheless, the seasonable imbalance between natural gas supply and demand will remain conspicuous.

Relationship between waxy crude viscosities and wax crystal microstructure

It is important and profound to quantitatively study the relation between rheology and microstructure for development of the microstructural mechanism of crude oil rheology and even for the waxy crude oil pipelining.However,due to the high complexity and irregularity of wax crystal morphology,quantitative characterization is hard to achieve.This has hampered further study on the rheology-microstructure relationship.A new approach combined the fractal geometry and the stereology theory is presented for quantifying the intricate wax crystal morphology and structure.Based on the characterization,the effects of microstructures and oil composition on the waxy crude viscosities are analyzed quantitatively.It further validates the previous qualitative research and enriches understanding into the microstructural mechanism of waxy crude oil rheology.

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.

Improving Investment and Financing Mechanism, Speeding up the Energy Reform Process-Interpretation to Implementing Opinions on Deepening Reform of Investment and Financing System in Energy Industry

Under the context of economic transformation and upgrading and the continued advancement of supplyside reforms in China, the development of the energy industry is confronted with many problems and challenges, such as insufficient energy investment, a shortage of financing channels,and the low participation of social capital. In order to fully mobilize social capital to invest in energy, enhance energy investment efficiency, expand energy financing channels,and increase the vitality of the energy industry, the state has recently issued the Implementing Opinions on Deepening the Reform of Investment and the Financing System in the Energy Industry( "Opinions"). This paper provides a deep interpretation of this document from the perspectives of the background for the investment and financing system reform in the energy industry,the main content of the reform, the problems and challenges confronting the reform,and the expected effects from the reform, and analyzes the objectives, ideas and problems of the reform, in order to effectively promote the investment and financing system reform in the energy industry.