The splint gas of gas power plant: The root of deep-south electric giant deficiency

Deep South Electric (000037.SZ) in the report, the Guangdong provincial government subsidized 139 million yuan, Deep South power in the first half of this year, the loss remains as high as 442 million yuan. At present, the cost of liquefied natural gas (LNG) per kilowatt hour is close to 0.8 yuan/cu m, but the price of electricity is only 0.745 yuan/kwh, how can we not lose?　　Recently, there are deep Southern electric people to this newspaper said.　　However, this newspaper learned that the high gas price is only the superficial cause of the loss, behind the CNOOC's monopoly of the gas source, so that Guangdong gas power plants such as Shenzhen and other channels can not obtain cheaper fuel. At present, CNOOC is Guangdong Dapeng Liquefied Natural Gas Co., Ltd. (referred to Dapeng Company), the controlling shareholder.　　The latter is the only local import qualified, and has been put into operation of the import LNG traders, control the receiving station, gasification equipment, such as the key equipment imported LNG projects, so Deep South power since 2006 has been relying on Dapeng company to supply imported LNG.　　Recently, as the shareholder of Dapeng company, the Guangdong local enterprises represented by the Shenzhen gas company have wanted to borrow the low-cost source of the channel to reduce the cost pressure of local gas power plants, but they were rejected by the large shareholder in CNOOC.　　August 27 Customs data show that July imported LNG spot to the highest CIF price of only 10.62 U.S. dollars/million British heat units, and deep South electricity revealed that in the same period, the price of CNOOC has reached 15 U.S. dollars/million British heat units around. Probe into the deep South electricity giant deficit Deep South electricity total installed capacity reaches 1.5 Million-kilowatt, its power unit distributes in Zhongshan, Dongguan and Shenzhen three.　　Before 2009, the main fuel used in these units is fuel oil, but due to environmental requirements, the Deep South electricity began to gradually switch to natural gas, "2009 half of the two fuels, the first half of this year were all converted to natural gas."　　Since October 2009, Dapeng's natural gas has risen all the way, the latest price has reached about 4 yuan/cubic meters, "5-degree electricity needs a cubic meter of natural gas, can be online electricity price only 0.745 yuan/degree, even if excluding other costs, only the fuel is sent more thanks to the more," said the Deep South electricity source. Dapeng Company is Guangdong Dapeng LNG project operation of the main body, from CNOOC led the entire operation of the company.　　Among them, CNOOC shares 33%, BP shares 30%, Guangdong Local enterprises share about 30%.　　According to the deep Southern electricity sources, 2009, the company bought 250,000 tons of LNG from Dapeng, the first three quarters of profit close to 150 million yuan, but precisely because of the four quarter Dapeng company significantly increase the price of LNG, resulting in a huge loss of nearly 80 million yuan, the final company's annual report earnings only 70 million yuan. "The amount of LNG purchases this year is sure to be much higher than last year, so the losses will be higher than last year.　　"he said.　　At the top of the deep energy level, the price is high because CNOOC is willing to solve its own difficulties, in the Far East LNG market is far less than the price of CNOOC's resources. "At present the Far East market spot price in 1.8-2.2 yuan/CU m, as long asWilling to buy, sure to find the seller, "he said," as users, the power plant, and so of course unwilling to passively accept CNOOC's ' high price ', since last October they began to try to organize their sourcing, but several efforts were frustrated by CNOOC. According to his introduction, in the domestic LNG import needs to meet several conditions: first of all, buyers must have LNG import qualifications, and currently has the qualification of only PetroChina, Sinopec and CNOOC; second, the buyer also needs to have LNG receiving station, gasification equipment and other facilities in the coastal areas, otherwise these import resources can not be sold on the mainland,　　Currently in southern China, has been built into operation of the LNG receiving station only Dapeng company's Guangdong Dapeng LNG receiving station. "Therefore, 2009 Shenzhen gas and other Guangdong local enterprises planning in Dapeng company board proposed a motion, I hope that the use of the company's surplus equipment to organize their own sourcing to meet the normal production of power plants and other enterprises."　　He said: "But this bill has not yet been on the board, the CNOOC was killed."　　Subsequently, the Hong Kong Electric Light (Natural Gas) Co., Ltd. and other downstream users also tried to propose a similar motion, but also because of the obstruction of CNOOC "stillborn." In this regard, Guangdong is very dissatisfied, "Dapeng company profit margin is very high, 2008 sales of 7.5 billion yuan, the profit reached 769 million yuan, 2009 sales 7.9 billion yuan, profit of 969 million yuan, why can not take care of local interests?"　　"CNOOC has difficulties?"　　The price of CNOOC was high, according to people familiar with the matter, since it began purchasing "high-priced" gas from Qatar in October 2009 – a contract that had to be carried out. CNOOC signed a 25-year LNG purchase and sale agreement with the Qatari LNG company in June 2008.　　Under the agreement, CNOOC will import 2 million tonnes of LNG a year from the Qatari LNG company since October 2009. "LNG prices in this agreement are pegged to international oil prices and the corresponding oil prices are not capped and are not guaranteed." Since the agreement was signed, international oil prices are at the top of the history, so the entire price system has been set very high from the start.　　The person said. October 2009, the contract was formally implemented, once CNOOC defaults, must pay the other party a large amount of liquidated damages, but at that time the target market in Zhejiang LNG receiving station has not been completed, but the CNOOC can only take advantage of the company's surplus LNG receiver capacity, the first to receive some of the Qatari resources,　　And this part of the resources in Guangdong local digestion.　　"This is the main reason why CNOOC does not allow other Dapeng shareholders to organize resources," he said.　　Unfortunately, CNOOC began to implement the agreement, the international oil price has slipped from the top 147 U.S. dollars/barrels to 50 U.S. dollars/barrels near, the Far East LNG spot price is far below the CNOOC purchase price, which led CNOOC to part of the resources in Guangdong digestion plan completely frustrated.　　But for the high price caused by the downstream enterprises huge losses, LNG sales are not smooth, CNOOC does not agree. "The market is nowJi, if the electricity loss, deep South electricity and so how to buy. The South China Sea petrochemical and Guangdong transverse gate gas turbine plant are also using these resources, so there is profit.　　Mr. Zhang, who is in charge of the LNG business, asked.　　However, he failed to provide data to support its own views, including LNG sales prices, the South China Sea petrochemical and so on. He pointed out that China's natural gas demand for rapid growth, so PetroChina, Sinopec and CNOOC procurement of international resources pressure is very high.　　In order to buy international resources, oil enterprises often need to choose resources, prices, procurement opportunities and other aspects, it is impossible to copy to the "lowest price." "It is now said that the Australian Northwest Continental Shelf to Guangdong Dapeng LNG project procurement Price is low, but it is not known outside, Qatar's offer than the Australian side of the offer is lower, but later proved that the choice of cooperation with the Australian side is correct." The purchase price of Qatar's resources is not intentional, this price can not let CNOOC bear alone, the reason for signing this agreement, mainly in order to start the Zhejiang market.　　"he said. For the current predicament, Shenzhen Fuhua Electric Power Co., Ltd. General manager Shaobing, and so on, besides the need to straighten out the energy price system, but also to break the oil and gas import monopoly, "only in this way, to promote the domestic energy market marketization mechanism formation."