Reformation of the gas industry in china and lessons drawn for Vietnam
Abstract
During the prolonged period of low oil prices, many countries in Asia, including China, are taking advantage of this opportunity to restructure their gas industry towards liberalisation of the gas market. In China, the restructuring marked the end of the "cost plus" pricing mechanism that lasted more than 50 years in the country’s gas industry. Current gas prices are indexed on the price of alternative energies and prices of natural gas are not only regulated by the government but also by supply-demand balance. However, the restructuring process has shown advantages and disadvantages in China’s management and pricing mechanism. These experiences could be lessons for Vietnam in the process of implementing plans and building a roadmap towards a liberalised gas market.
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