| In the history of energy trade development,there will be a regional reference price,the most common is the regional benchmark price.While regional trade in natural gas is strengthening,it still lacks a regional benchmark for natural gas and is difficult to respond to real supply and demand in the Asia-Pacific region.In this paper,the North American natural gas regional pricing center as the research object,from the market development,price mechanism and government supervision at three levels to study the formation of the pricing center background,clarified the physical and virtual natural gas regional pricing center differences.Analysis of the reasons for the formation of natural gas regional pricing centers from a qualitative point of view: mature capacity markets and developed pipe network systems are the prerequisites and foundations for the formation of regional trading markets.Adequate storage facilities and regulatory mechanisms are developed as regional pricing centers On this basis,this paper analyzes the existence of price correlation between the price of urban gate station and Henry hub in North America,and then establishes the vector autoregressive model.The model results show that the center price of Henry hub is other trading center Natural gas spot price of Granger reasons,Henry hub prices change,the other regional trading center prices will follow the changes.In addition,this paper further studies the operation and management of the North American natural gas regional pricing center,and the results show that the standardized market operation form is the key to the trading center turning to the pricing center. |
PDF Full Text Request