我国页岩气勘探开发项目融资模式研究

发布时间：2018-04-26 16:39

本文选题：页岩气 + 项目融资　；参考：《西南石油大学》2017年硕士论文

【摘要】：能源消费结构的合理性是衡量一个国家或地区发展的重要指标,煤炭在我国能源消费结构中占比偏高,而清洁、高效的天然气占比远低于世界平均水平。为了调整我国的能源结构,缓解天然气需求,急需发展我国天然气。我国拥有丰富的页岩气资源储量,通过借鉴美国、加拿大页岩气开发的成功经验,现已实现了页岩气的商业化开发。我国页岩气开发虽取得一定可喜的成就,但仍存在很多问题,资金问题是开发中存在的重要问题。由于页岩气勘探开发高成本等因素造成资金需求量大,而页岩气勘探开发的高投资风险降低了投资者投资热情,从而引发资金短缺的问题。如何有效解决我国页岩气勘探开发资金短缺的问题是本论文研究的主线。本论文通过分析我国页岩气勘探开发项目现阶段所用融资模式,发现页岩气勘探开发项目在融资过程中所存在的问题,引出寻找新型融资模式来解决页岩气资金问题的必要性,结合项目融资模式的诸多优势,本论文尝试将项目融资模式应用于页岩气勘探开发阶段。本文通过文献调研以及查阅书目等方法整理出我国常用的几种项目融资模式,结合页岩气勘探开发项目生产周期长、开采成本高、风险大、需要长期不断的投资、且投资回收较慢等特点,分别对各融资模式进行论证分析,筛选出可行的项目融资模式,通过统计归类最后得出5大类有代表性的项目融资模式,分别为PPP、ABS、基于产品支付、基于设施使用协议以及杠杆租赁融资模式,并对其适用性进行详细地分析。针对多种可选择的项目融资模式,本论文结合页岩气勘探开发项目,应用模糊层次分析法建立了页岩气勘探开发项目融资模式选择模型。并针对四川省长宁区块页岩气勘探开发进行实例应用,通过专家打分法确定各层次影响因素权重,最后经过计算结果选出最适合于长宁区块的项目融资模式,并给出了该区块勘探开发项目融资模式建议。
[Abstract]:The rationality of energy consumption structure is an important index to measure the development of a country or a region. The proportion of coal in the energy consumption structure of our country is on the high side, while the proportion of clean and efficient natural gas is far lower than the average level of the world. In order to adjust the energy structure of our country and alleviate the demand of natural gas, it is urgent to develop natural gas in China. China has abundant shale gas reserves, and has realized the commercial development of shale gas by drawing lessons from the successful experience of shale gas development in the United States and Canada. Although some gratifying achievements have been made in the development of shale gas in China, there are still many problems, and the problem of capital is an important problem in the development of shale gas. Because of the high cost of shale gas exploration and development, the high investment risk of shale gas exploration and development reduces the investment enthusiasm of investors, thus causing the problem of capital shortage. How to effectively solve the shortage of shale gas exploration and development funds is the main line of this paper. By analyzing the financing mode of shale gas exploration and development projects in China, this paper finds out the problems existing in the financing process of shale gas exploration and development projects, and leads to the necessity of finding a new financing mode to solve the shale gas financing problems. Considering the advantages of the project financing model, this paper attempts to apply the project financing model to the shale gas exploration and development stage. Through literature investigation and bibliography, this paper sorts out several common project financing modes in China. Combined with shale gas exploration and development projects, the production cycle is long, the mining cost is high, the risk is high, and the investment is needed for a long time. And the characteristics of slow return of investment, respectively, to demonstrate and analyze each financing model, screen out the feasible project financing model, through statistical classification, finally get five representative project financing models, respectively, PPP- ABS, based on product payment, Based on the facility usage agreement and the leveraged lease financing model, the applicability of the facility is analyzed in detail. In view of various alternative project financing models, this paper establishes a model of shale gas exploration and development project financing model by using fuzzy analytic hierarchy process (FAHP) combined with shale gas exploration and development project. According to the example of shale gas exploration and development in Changning area of Sichuan Province, the weight of influencing factors at different levels is determined by expert scoring method, and the project financing mode that is most suitable for Changning block is selected through the result of calculation. The financing model of exploration and development projects in this block is also proposed.
【学位授予单位】：西南石油大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.22;F406.7

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