Abstract:
With the advancement of China’s natural gas market-oriented reform, the financial value of underground gas storage will change correspondingly during the commercial operation, and its change mode has not been quantitatively studied.Therefore, this paper quantifies the degree of natural gas marketization into three quantitative indicators:price volatility, market regression and transaction cycle, and uses the least square Monte Carlo method to numerically study the financial value of gas storage services in the process of natural gas marketization reform.The calculation results show that with the increase of natural gas price volatility, the financial value of gas storage services will increase significantly.With the increase of competitive market participants and the increase of price regression, the financial value of gas storage services shows a trend of rapid increase at first and remain unchanged after reaching a certain degree.Under the condition of low price regression, the financial value of gas storage services changes irregularly with the transaction cycle.Under the condition of high price regression, the financial value of gas storage services decreases with the increase of the transaction cycle.On the whole, with the overall increase of natural gas marketization, the financial value of gas storage services will be significantly improved.Therefore, in the planning and design of gas storage at this stage, the changes of financial value under the promotion of natural gas marketization reform should be fully considered.