The main fields and management mode of downstream application of natural gas

The price of industrial and commercial gas is higher than that of domestic gas, and there is volatility. In recent years, the reform of natural gas prices mainly focuses on the field of non-residential gas, and the gas prices of industrial and commercial enterprises have gradually increased, and the problem of "cross-subsidies" has become prominent. Since 2017, the application form of "coal to gas" has been gradually rolled out, and the national natural gas consumption has been rising, but due to problems such as cost and application technology, the economy of natural gas as a chemical raw material has continued to decline, and natural gas accounts for a relatively high proportion of raw material costs. At present, the overall capacity of China's chemical industry is suspected to be excess, and the scale of the chemical gas market is expected to shrink.

Power generation and heating

Natural gas power generation is mainly realized by centralized gas-fired power stations and peaking power stations. By the end of 2017, the total installed capacity of natural gas power generation in China reached 76.29 million kilowatts, accounting for about 4.3% of the total installed capacity of power generation in the country.

In the traditional operation mode of gas-fired power plants in China, the costs mainly include infrastructure costs, fuel costs, operating costs, etc., and the income mainly depends on the sale of electricity.

Fuel costs account for about 70% of the cost. Under the existing gas supply system, the price of natural gas storage and transportation is high, and the cost of gas source is difficult to decrease. Gas power generation equipment relies on imports, coupled with the on-grid price does not have obvious advantages and other factors superposition, gas power enterprises cost pressure is heavy. At present, the cost of gas-fired power generation is about 2-3 times that of coal-fired power generation, and with the construction of storage and transportation facilities and the improvement of pricing mechanisms, the cost of natural gas power generation is expected to fall further.

The on-grid electricity price in the income adopts the way of cost plus, which is composed of cost, profit and tax. At present, there is no national unified gas power generation on-grid electricity price specification, mainly divided into two kinds of electricity price and single electricity price, determined by the local government price authorities, basically in the form of "one plant one price" and "one machine one price". It is estimated that the profit bottom line of the on-grid electricity price of gas power generation is about 0.55 yuan, and the natural gas peaking power plant is about 0.6 yuan.

Natural gas heating forms include gas-fired cogeneration, gas-fired boilers, "coal to gas" and so on. By the end of 2016, natural gas heating area in northern China was about 2.2 billion square meters, accounting for 11% of the total heating area.

The business model of gas heating enterprises is mainly to invest in infrastructure construction and operating costs, and obtain benefits in the form of heating fees. Taking Beijing as an example, natural gas heating costs are divided into wall hanging furnace heating and "coal to gas" central heating costs, do not consider wall hanging furnace investment and heating subsidies, urban residents household heating expenses average 2185 ~ 4804 yuan/heating season.

Transportation energy

The vehicles that use natural gas as fuel include city buses, taxis, logistics and distribution vehicles, passenger vehicles, sanitation vehicles, cargo vehicles and transport vessels. Relevant policies actively support the development of natural gas vehicles, while encouraging the development of natural gas vessels in inland rivers, lakes and coastal areas. At present, the number of natural gas vehicles in China is about 5.576 million, and more than 7,950 supporting filling stations have been built. At present, there are about 204 natural gas-powered vessels and 15 Marine refueling terminals.

In the traditional operation mode, gas companies, as transportation energy suppliers, mainly sell natural gas through the construction of filling stations. The cost includes infrastructure construction costs, gas source costs, operating costs, etc., and the income from the sale of natural gas is taken as the income. Natural gas fuel economy is outstanding, at the beginning of 2017, the oil and gas price ratio of major domestic consumption areas reached 0.53 to 0.6, which is equivalent to the same distance under the natural gas fuel cost is 53% to 60% of the fuel cost.

It is expected that the number of natural gas vehicles is expected to exceed 10 million in 2020, and the number of gasification ships will reach 60,000. In the long run, the development of natural gas vehicles and vessels needs to be accelerated, and the construction layout of gas filling facilities needs to reach a reasonable proportion.

Fit with finance lease

Natural gas application is an asset-heavy industry, the development of business has a certain dependence on infrastructure construction, the need to rely on a large amount of capital investment, the security of the capital chain in the process of sustainable development of enterprises is crucial. From the perspective of international experience, the introduction of financial leasing in the natural gas industry can achieve the goals of enhancing the financial strength of enterprises, avoiding financial risks, and improving the industrial chain layout.