Research on market products and economic analysis of underground gas storage in China

With the official operation of China Oil & Gas Piping Network Corporation and the encouragement and support of national policies for the marketization of underground gas storage, the design of market storage products has become an inevitable demand for the operation and development of underground gas storage. By referring to the product types of gas storage abroad and combining with the development status of gas storage in China, the product types of gas storage were studied and designed. It was suggested that the products of underground gas storage of depleted oil and gas reservoirs should be designed according to the stage characteristics of capacity expansion and stable operation, and the product types should be gradually increased. The salt-cavern underground gas storages are divided into standard bundling units with the working gas and the injection-withdrawal capacity bundled, and the prices of the standard bundling units are depending on the injection-withdrawal capacity. As shown in the inference analysis, according to the existing pipeline transportation prices and gas storage two-part expected charging model, the fixed products used for peak-shaving and strategic storage, the interruptible products and the storage/temporary loan products are economical and feasible for users, gas storages and PipeChina.