Title

Discussion on internal rate of return status and development strategy of China shale gas

作者

1刘建亮王亚莉陆家亮关春晓2

单位

中国石化中原油田普光分公司，四川达州 635000 中国石油勘探开发研究院，北京 100083

摘要

经过10余年的探索实践，我国页岩气已步入工业化开采阶段，但与国家能源局发布的“十三五”页岩气开发规划产量目标相比，仍存在较大的差距。加快页岩气规模开发，成为促进中国经济社会发展、保障能源安全的关键问题之一。资本市场对页岩气投资项目预期收益的判断，是制约投资进入页岩气开发领域的关键因素。文中通过对页岩气项目收益率的研究和探索，提出了加快中国页岩气快速发展的对策建议：1）适当降低页岩气基准收益率标准，提高资源动用程度；2）构建多元化页岩气开发投融资模式，拓宽资金来源渠道；3）打造独立于油公司之外的工程技术服务公司，补齐工程技术短板；4）构建全国页岩气基础资料共享平台，打破信息共享壁垒；5）统筹兼顾页岩气产业链协调发展，实施精准财政支持。

Abstract

After more than ten years of exploration and practice, China shale gas has entered the stage of industrial exploitation, but compared with the production target of shale gas development plan issued by the National Energy Administration in the 13th Five-Year Plan, there is a big gap. Speeding up the development of shale gas scale has become a key issue to promote the economic and social development of our country, build a beautiful China and ensure energy security. The judgment of the expected return of shale gas investment project is the key factor to restricting investment into shale gas development. Based on the research and exploration of the rate of return of shale gas project, this paper puts forward five countermeasures and suggestions to accelerate the rapid development of shale gas in China: lowering the benchmark rate of return of shale gas appropriately and increasing resource utilization; construct diversified investment and financing mode of shale gas development and broaden the source of funds; build an engineering and technical service company independent of the oil company, shore up our weak spots; build a national shale gas basic data sharing platform to break down information sharing barriers; coordinate the whole shale gas chain developement, implement accurate financial support.

关键词：

页岩气; 开发项目; 投资; 成本; 基准收益率; 加权平均资金成本; 政策建议;

Keywords:

shale gas; exploitation project; investment; cost; IRR; weighted average cost of capital; policy suggestion;

基金项目

DOI

10.6056/dkyqt202006002

中国页岩气开发效益现状及发展策略探讨