Institutional constraints to China's low carbon transition: A case study of China's coal-to-gas program

摘要

In the winter of 2017, Beijing-Tianjin-Hebei (Jing-Jin-Ji) and the peripheral provinces carried out the Coal-to-Gas Program. Meanwhile, the & ldquo;shortage of natural gas (gas shortage)& rdquo; became worse. The paper builds an framework to analyze the reason for China & rsquo;s gas shortage from the aspect of the natural gas industrial chain. The oligopoly of the upper, middle and lower stages from exploration, exploitation to pipeline networking, storage and transportation, and distribution of the natural gas industry leads to the absence of the price transmission and incentive system in the industry, severely hindering the improvement of the supply and emergency response capacity of natural gas. The oligopoly of upstream mineral rights leads to insufficient supply of gas storage in China. Lack of social capital lead to a lack of competition for gas supplies. The development of natural gas lacks spot market, futures market and effective regulatory system, Reform of the gas market still has a long way to go in China.(c) 2021 Elsevier B.V. All rights reserved.