Time-varying determinants of China's liquefied natural gas import price: A dynamic model averaging approach

doi:10.1016/j.energy.2022.125013

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	Time-varying determinants of China's liquefied natural gas import price: A dynamic model averaging approach
	Wang, Tiantian ; Qu, Wan 1; Zhang, Dayong 2; Ji, Qiang3,4 ; Wu, Fei 2
发表期刊	ENERGY
关键词	Natural gas China LNG import Dynamic model averaging Energy security
摘要	We adopt a dynamic model averaging (DMA) approach to study the time-varying impacts of several domestic and international factors on the volatility and premium of China's liquefied natural gas (LNG) import price from January 2008 to December 2020. China's LNG import price tends to be more affected by domestic market in-formation than by international crude oil prices. The demand side factors in the domestic market, including gas consumption, weather conditions and industrial growth, are shown to be the major drivers of the dynamics of China's LNG import price. Relative to the influences of the US or European gas markets, China's LNG import price is more sensitive to the impacts of its Japanese counterpart, which could be attributed to their similar pricing mechanisms. The high premium of China's LNG import price is also largely caused by increasing domestic energy demands. Our results further provide evidence of the benefits of marketizing the natural gas pricing in China. While trying to secure natural gas supply, more efforts should be made to keep promoting the liberali-sation and marketisation of the domestic natural gas market.
	2022
卷号	259
ISSN	0360-5442
文章类型	Article
DOI	10.1016/j.energy.2022.125013
关键词[WOS]	CRUDE-OIL ; LNG ; CONSUMPTION ; INDEXATION ; MARKETS ; FINANCIALIZATION ; FUNDAMENTALS ; HOUSEHOLDS ; FRAMEWORK ; LINKAGES
语种	英语
WOS研究方向	Thermodynamics ; Energy & Fuels
WOS类目	Thermodynamics ; Energy & Fuels
WOS记录号	WOS:000855557400003
引用统计
文献类型	期刊论文
条目标识符	http://ir.casisd.cn/handle/190111/12073
专题	系统分析与管理研究所
作者单位	1.Nanjing Audit Univ, Finance Sch, Nanjing 211815, Peoples R China 2.Natl Dev & Reform Commiss, Ctr Innovat Driven Dev, Ctr Digital Econ Res & Dev, Beijing 100045, Peoples R China 3.Southwestern Univ Finance & Econ, Res Inst Econ & Management, Chengdu 610074, Peoples R China 4.Chinese Acad Sci, Inst Sci & Dev, Beijing 100190, Peoples R China 5.Univ Chinese Acad Sci, Sch Publ Policy & Management, Beijing 100190, Peoples R China
推荐引用方式 GB/T 7714	Wang, Tiantian,Qu, Wan,Zhang, Dayong,et al. Time-varying determinants of China's liquefied natural gas import price: A dynamic model averaging approach[J]. ENERGY,2022,259.
APA	Wang, Tiantian,Qu, Wan,Zhang, Dayong,Ji, Qiang,&Wu, Fei.(2022).Time-varying determinants of China's liquefied natural gas import price: A dynamic model averaging approach.ENERGY,259.
MLA	Wang, Tiantian,et al."Time-varying determinants of China's liquefied natural gas import price: A dynamic model averaging approach".ENERGY 259(2022).