天津液化天然气接收站建设项目财务评价研究

发布时间：2018-01-14 14:17

本文关键词：天津液化天然气接收站建设项目财务评价研究　出处：《中国海洋大学》2013年硕士论文　论文类型：学位论文

【摘要】：随着改革开放几十年来中国经济的飞速发展,中国对各种能源的消耗量也越来越大,而中国目前尚不能完全靠扩大国内生产和运输石油、天然气和煤炭的方式满足经济高速发展对能源的需求,因此必须依靠进口能源来满足未来的需求。近几年中国进口能源最快捷和可行的方式就是通过海运进口石油和液化天然气,尤其是通过东部沿海省份海岸线管道进口。天津、北京、河北、山东及周边地区是环渤海经济的重要组成部分,这些地区对进口天然气的需求量很大并且需求量在逐年增加,天津是京津唐经济发展的强大推动力,拥有条件良好的港口码头,区位优势非常明显,具备建设液化天然气(LNG)接收站的条件。本论文可分为三个部分。第一部分主要介绍了项目财务评价的理论基础,包括项目评价的概念、作用和流程,重点介绍了财务评价的指标体系,按照是否考虑资金的时间价值、按照指标的性质、按照财务效益分析的目的将这些指标分为三类。然后采用按照财务效益分析的目的的分类方法,从盈利能力、偿债能力、不确定性分析三方面入手对各个指标的具体计算方法进行了介绍,最后介绍了液化天然气接收站项目财务评价的特点。第二部分主要对天津LNG接收站建设项目所面临的市场需求进行预测分析。首先说明该项目的规划规模和市场定位,运用消费系数法对LNG接收站项目各年在各个市场上的需求量进行预测。然后结合该项目的可供资源供给进行项目的供需平衡分析,得出各资源点的天然气供应量不能完全满足市场需求量,因此天津LNG接收站建设项目存在建设的市场空间的结论。最后根据供需结果对客户的可承受气价进行分析和价格弹性分析。第三部分对该项目进行财务分析和评价,首先建立起LNG项目财务评价的体系,然后进行项目的投资估算和资金筹措分析,得出项目的投资总额、借贷资金规模、建设期利息等。最后进行项目的财务分析和评价,先对项目计算期内的营业收入和成本费用进行估算,据此制作现金流量表、利润分配表、资产负债表等报表,并用IRR、NPV、投资回收期、资产负债率、盈亏平衡点等指标分析项目的财务可行性,从各项指标来看均得出该项目财务上具有很高的可行性的结论。
[Abstract]:With the rapid development of China's economy in the past decades of reform and opening up, China has been consuming more and more energy resources, but at present China cannot rely entirely on expanding domestic production and transportation of oil. Natural gas and coal meet the rapid growth of the economy to meet the demand for energy. Therefore, we must rely on imported energy to meet future needs. In recent years, the quickest and feasible way for China to import energy is to import oil and liquefied natural gas by sea. Tianjin, Beijing, Hebei, Shandong and surrounding areas are important parts of the Bohai Sea economy. The demand for imported natural gas in these areas is very large and the demand is increasing year by year. Tianjin is a powerful driving force for the economic development of Beijing-Tianjin-Tang Dynasty. This paper can be divided into three parts. The first part mainly introduces the theoretical basis of project financial evaluation, including the concept, role and process of project evaluation. This paper mainly introduces the index system of financial evaluation, according to whether to consider the time value of funds, according to the nature of the indicators. According to the purpose of financial benefit analysis, these indicators are divided into three categories. Then the classification method according to the purpose of financial benefit analysis is adopted, from profitability, solvency. The concrete calculation methods of each index are introduced in three aspects of uncertainty analysis. Finally, the characteristics of financial evaluation of LNG receiving station project are introduced. The second part mainly forecasts and analyzes the market demand of Tianjin LNG receiving station construction project. Market orientation. The consumption coefficient method is used to predict the demand of LNG receiving station project in each market year, and then the supply and demand balance of the project is analyzed in combination with the available resources supply of the project. It is concluded that the natural gas supply at each resource point can not completely meet the market demand. Therefore, the conclusion that there is market space for the construction of Tianjin LNG receiving station is concluded. Finally, according to the results of supply and demand, the price elasticity and the price elasticity of the customer are analyzed. The third part is the financial analysis of the project. And evaluation. Firstly, the financial evaluation system of LNG project is established, then the investment estimation and financing analysis of the project are carried out, and the total investment of the project and the scale of the loan funds are obtained. Finally, the financial analysis and evaluation of the project are carried out, and the operating income and cost are estimated in the calculation period of the project, according to which the cash flow statement, profit distribution statement, balance sheet and other statements are made. The financial feasibility of the project is analyzed by using IRRX NPV, investment payback period, asset-liability ratio, breakeven point and so on, and the conclusion that the project has high financial feasibility is obtained from the point of view of each index.
【学位授予单位】：中国海洋大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F426.22;F406.7

【参考文献】