（来源：经济日报） 记者从国家管网集团西部管道有限责任公司获悉："十四五"期间，该公司锚定"全国一张网"目标，推进一批重大管道工程建设，累计完成重大项目投资 155亿元，建成和在建管道里程1019.2公里。 目前，自建项目准东煤制天然气管道支线工程正加速推进，该工程总长114.118公里，设计输量60亿立方米/年，已完成110公里焊接，较原计划提前60 天。"投产后，准东的煤制气将通过我们的管道直达长三角，为东部地区清洁能源供应再添新保障。"项目负责人说。与此同时，塔城——石河子甲醇管道 前期工作也有序开展，将为新疆煤化工产业打通新能源"出疆通道"，助力地方产业升级与经济发展。 2025年8月，西气东输果子沟战略安全管道工程1号山岭隧道成功贯通，创造了我国油气管道隧道建设技术的新高度。这座全长近6公里的隧道，是国内油 气管道领域单次掘进长度最长、海拔最高的山岭隧道项目，施工难度极大。施工团队秉持"敢为人先、勇攀高峰"的精神，成功啃下这块"硬骨头"，为"全 国一张网"建设打通关键节点。 图为西气东输二三线果子沟管道工程"平安号"航拍俯瞰照片。刘复合摄 转自：经济日报 图为阿拉山口输油站员工进行巡检。潘蕾伊摄 重 ...

在能源安全与低碳转型双重目标下，天然气仍将扮演集稳定基石、灵活调节器和关键纽带等多重功能于一身的"战略能源"角色。 ▲图片由AI制作 不完全梳理显示，截至目前，包括北京、天津、河北、山西、山东等在内的23个省（区、市），已陆续发布"十五五"规划建议。梳理 这些文件可以发现，各地均将"新型能源体系"建设置于重要位置，而天然气作为清洁低碳、灵活高效的能源品种，其战略地位在多份规 划中被重点提及。总体来看，在能源安全与低碳转型双重目标下，天然气仍将扮演集稳定基石、灵活调节器和关键纽带等多重功能于一 身的"战略能源"角色。未来五年，其发展路径将沿着强化政策定位、筑牢基础设施网络、开拓多元消费市场三个维度扎实推进。 关键纽带作用成共识 记者在梳理中注意到，23份省级规划建议形成一项清晰的政策共识，即在能源消费总量持续增长与低碳转型目标并存的时代，天然气有 着衔接传统能源系统与未来新型能源体系不可或缺的"纽带"作用。 这些规划建议一个默契的做法是，相较于对煤炭和石油消费提出的"达峰"要求，并未对天然气消费设置类似天花板。 这样的决策定位基于多重现实考量。 在技术层面，天然气发电具有优秀的调峰能力，能够有效弥补风电、光伏等 ...

此次投产的四川段全长约190公里，设计年输气能力200亿立方米。投产当日，来自四川威远、泸县等气田的天然 气平稳注入国家主干管网，将资源产区与消费市场紧密连接，为优化我国能源结构、服务经济社会高质量发展注入新 的动力。 四川段建设面临盆地复杂地形挑战，项目团队应用柔性内焊机、氩弧外根焊等山地全自动焊接先进设备和技术， 实现山区长距离管道连续铺设，焊口一次合格率达99.2%，在复杂地形条件下实现高标准建设。尤为引人注目的是， 该管段三座关键场站均采用先进的无人值守设计，标志着我国长输管道智能化建设水平得到进一步提升。 川气东送二线是"全国一张网"的重要组成部分，全线长约4269公里，途经四川、重庆、湖北、河南、江西、安 徽、浙江、福建8省市，于2023年开工建设，预计于2027年全线建成投产。全线贯通后，将与现有川气东送管道联合运 行，实现沿海液化天然气接收站与内陆管网的互联互通，成为服务长江经济带发展的重要能源通道，显著增强我国天 然气供应保障和应急调峰能力。（记者 李欣忆） 工作人员进行投产前检查。国家管网集团供图 12月29日，记者从国家管网集团获悉，国家"十四五"重大能源基础设施工程——川气东送二线天然 ...

近日，《石油天然气基础设施规划建设与运营管理办法》(以下简称《管理办法》)正式印发，引发关 注。业内专家普遍认为，这是深化油气体制改革、完善油气市场体系的重大举措，也是《能源法》在油 气领域的细化和落实，将成为油气行业高质量发展过程中的"里程碑"。 运销分离进一步强化 据了解，与2014年版《管理办法》相比，新版政策的管理范围由天然气基础设施扩大为石油天然气基础 设施，增加了提供公共服务的原油和成品油管道等设施，与主要管输企业的经营范围适配性进一步增 强，有助于企业依法依规经营。此外，多位专家表示，《管理办法》修订的核心举措在于强制实施运销 业务分离。 中国石油经济研究院天然气所所长段兆芳介绍，《管理办法》首次明确"承担国家石油天然气干线建设 主体责任的企业"这一主体范畴，并严格限定其经营范围，禁止涉足油气勘探开发、进出口、生产销售 等竞争性业务；同时规定，从事竞争性业务的企业亦不得参与干线管道投资与运营。通过彻底厘清干线 管输与生产销售之间的业务边界，打破纵向一体化垄断格局，为实现油气基础设施向所有市场主体公 平、无歧视开放奠定制度基础。 "进一步强化'运销分离'，要求干线管网运营与上下游竞争性业务彻底切割 ...

Core Insights - The completion of the Turpan to Zhongwei section of the West-to-East Gas Pipeline Phase IV and the main welding of the Hulin-Changchun natural gas pipeline marks a significant advancement in China's energy infrastructure [1] - The country's natural gas transmission capacity has surpassed 400 billion cubic meters, indicating a substantial enhancement in pipeline gas transmission capabilities [1] - By 2025, over 2,000 kilometers of new pipelines are expected to be constructed, adding 25 billion cubic meters of transmission capacity, in line with the 14th Five-Year Plan's target of 16,500 kilometers [1] - Since the beginning of the 14th Five-Year Plan, more than 13,000 kilometers of oil and gas pipelines have been built, bringing the total length to over 190,000 kilometers, with daily gas supply capacity reaching 1.11 billion cubic meters [1] - A comprehensive national gas network is being established, connecting east to west and north to south, as well as linking to overseas sources [1]

Core Viewpoint - The National Development and Reform Commission and the National Energy Administration have issued guidelines to transition from "one line one price" and "one enterprise one price" to a unified pricing model for natural gas pipeline transportation within provinces, aiming to facilitate the integration into a national network [2][4]. Pricing Mechanism - The new pricing mechanism will implement a unified pricing model for provincial natural gas pipeline transportation, moving towards either zonal pricing or a province-wide uniform price to align with inter-provincial pricing mechanisms [2][4]. - The pricing will be determined based on a "permitted cost plus reasonable return" method, with provincial development and reform departments conducting strict cost audits [2][3]. Pricing Parameters - The depreciation period for natural gas pipeline assets is set at 40 years, and safety production costs must be fully accounted for to ensure stable operation [3]. - The permitted return rate will be determined considering pipeline construction needs and user affordability, generally not exceeding the 10-year government bond yield plus 4 percentage points [3]. Regulatory Framework - The pricing will undergo periodic reviews and dynamic adjustments, with a regulatory cycle of three years, allowing for early reviews if significant changes occur in assets, costs, or gas volumes [3]. - The guidelines emphasize the importance of safety production costs to enhance the focus on pipeline safety in various provinces [3]. Industry Impact - The guidelines will facilitate easier comparisons for enterprises when selecting different paths and service providers, as they allow for zonal or single pricing for provincial pipelines [3]. - The integration of provincial pipelines into the national network system is expected to lay the groundwork for a unified national operation in the future [4].

Investment Rating - The report maintains an "Accumulate" rating for the gas industry [1] Core Insights - The release of the provincial natural gas pipeline transportation pricing mechanism by the National Development and Reform Commission and the National Energy Administration aims to facilitate the realization of a "national unified network" and promote cost reduction in downstream operations [4] - The new pricing mechanism will transition from "one line one price" and "one enterprise one price" to a zonal pricing or province-wide unified price, effectively linking with the cross-province natural gas pipeline transportation pricing mechanism [4] - The effective asset return rate cap proposed in the new guidelines is lower than the current levels in various provinces, which is expected to lead to a decrease in pipeline transportation fees [4] - The report anticipates that the reduction in transportation costs will benefit downstream city gas companies, allowing for price gap restoration for residential users and increased gas volume for non-residential users [4] Summary by Sections Industry Trends - The report highlights a 64% increase in residential pricing adjustments across 187 cities from 2022 to mid-2025, with an average increase of 0.21 CNY per cubic meter [4] Investment Recommendations - The report recommends focusing on companies such as Xin'ao Energy (with a dividend yield of 5.3%), China Resources Gas, Kunlun Energy, and China Gas, all of which have a dividend yield of around 4.6% to 6.1% [4] - It suggests paying attention to Shenzhen Gas and Honghua Smart Energy as potential investment opportunities [4]

Core Viewpoint - The National Pipeline Group is making significant progress in the construction of a unified national pipeline network, with a strong focus on safety, quality, and timely completion of projects as it approaches the halfway mark of its 2025 goals [1]. Group 1: Major Pipeline Projects - The "West-to-East Gas Transmission Project" Phase III has a total length of 2,090 kilometers, with the middle section completed and expected to be operational by September this year [4]. - The "West-to-East Gas Transmission Project" Phase IV has a total length of 3,340 kilometers and an annual gas transmission capacity of 15 billion cubic meters, with the section from Turpan to Zhongwei already completed and operational [6]. - The "Hulin-Changchun Natural Gas Pipeline" project spans 2,073 kilometers and is designed for an annual gas transmission capacity of 10 billion cubic meters, with the main welding completed and expected to be operational by the end of this year [8]. - The "Zhangzhou LNG Receiving Station" Phase I has been put into operation, while Phase II is under construction and expected to be operational by the end of August this year [9]. - The "Guangxi LNG Export Pipeline" project has a total length of 346.8 kilometers and an annual gas transmission capacity of 1 billion cubic meters, with 217 kilometers of welding completed [11]. - The "Tianjin LNG Export Pipeline" project has a total length of 136.84 kilometers and an annual gas transmission capacity of 15.6 billion cubic meters, with the Hebei section already operational [13]. - The "Lianyungang to Yizheng Crude Oil Pipeline" project spans 435 kilometers and has an annual oil transmission capacity of 18.5 million tons, with over 85% of the pipeline laid [15]. - The "Jintan Gas Storage Facility Expansion" project has made significant progress in the first half of this year, with key systems installed and successfully powered [17]. Group 2: Provincial Key Projects - The "Longkou Nanshan LNG Receiving Station" project has a pipeline length of 29.4 kilometers and a daily gas transmission capacity of 8.9 million cubic meters, currently completed and ready for operation [20]. - The "Shenzhen LNG Emergency Peak Shaving Station" project features two 200,000 cubic meter underground LNG storage tanks, with the first phase completed [22]. - The "Hainan LNG Receiving Station" Phase II is under construction, with three 220,000 cubic meter LNG storage tank foundations completed [24]. - The "Nanning-Pingxiang Branch Line" has successfully commenced operations, connecting the city of Chongzuo to the national natural gas main pipeline network [26]. - The "Nenjiang Direct Natural Gas Pipeline" project spans 194 kilometers and is designed for an annual transmission capacity of 863 million cubic meters, with the entire line completed and expected to be operational by September [28].

Core Viewpoint - The successful commissioning of the Turpan to Zhongwei section of the West-to-East Gas Transmission Project Line 4 marks a significant advancement in China's energy infrastructure, enhancing the reliability and flexibility of the national gas supply network [3][5][7]. Group 1: Project Overview - The West-to-East Gas Transmission Line 4 spans 1,745 kilometers, with a pipeline diameter of 1,219 millimeters and a design pressure of 12 MPa, capable of an annual gas transmission capacity of 15 billion cubic meters [5]. - This new line will operate in conjunction with Lines 2 and 3, improving the energy corridor in Northwest China and facilitating the transport of gas from Central Asia and Xinjiang to the Bohai Rim, Central, and Southeast coastal regions [5][7]. Group 2: Strategic Importance - The West-to-East Gas Transmission Line 4 is part of China's major natural resource allocation projects, alongside the South-to-North Water Diversion, West-to-East Power Transmission, and North Coal South Transport initiatives [9]. - The project enhances the gas supply system's capacity, providing stable supplies of clean natural gas to surrounding areas, which is crucial for optimizing regional energy structures and improving air quality [7][9]. Group 3: Technological Innovations - The project features significant technological advancements, including the use of 18-meter long pipes, the development of 33-millimeter thick high-strain steel pipes, and the application of automated welding and digital radiographic testing techniques [9]. - Upon completion, the annual gas transmission volume is expected to reach 15 billion cubic meters, replacing over 27 million tons of standard coal and reducing carbon emissions by approximately 50 million tons [9].

Core Insights - The National Pipeline Group has successfully transported over 400 million tons of crude oil in the Yangtze River Delta during the 14th Five-Year Plan period, ensuring energy supply for high-quality development in the region [1][2] - The company aims to establish itself as a world-class enterprise while implementing the "Four Revolutions, One Cooperation" energy security strategy proposed by President Xi Jinping [1][2] - The East Crude Oil Transportation Company has delivered over 97 million tons of crude oil to refining enterprises in Jiangsu Province during the 14th Five-Year Plan, supporting over 85% of the production capacity of along the Yangtze River [2][3] Energy Infrastructure Development - The company operates key national projects such as the Ningbo-Shanghai-Nanjing pipeline and the Yizhang pipeline, connecting refineries and ports across five provinces [3] - The company has a total of 16 operational long-distance crude oil pipelines and storage facilities, with a combined length exceeding 6,000 kilometers, contributing significantly to the energy needs of the Yangtze River Economic Belt [3] Technological Innovation - The company has implemented smart technologies in its operations, including the use of domestically produced PLC equipment and a self-control system for pipeline management [4][5] - Innovations include the development of a monitoring and emergency command center platform, real-time sensing of pipeline parameters, and the use of drones for intelligent pipeline inspections [4][5] Environmental Responsibility - The company emphasizes environmental protection, having won awards for ecological restoration projects related to oil and gas pipelines [6][7] - It has established a comprehensive environmental management system covering the entire lifecycle of pipeline operations, employing multiple safeguards to minimize ecological impact [7] Strategic Goals - The National Pipeline Group is committed to serving national strategies and public needs while fostering market-oriented, platform-based, and technology-driven innovations [7]