油气管道建设项目融资模式研究

我国油气管道建设存在着巨大的投资需求,如何保证建设资金的有效供给成为一个迫切需要解决的问题。要从根本上解决这一问题,就需要将油气管道垄断性投资转变为市场化投资的系统模式,构建适合油气管道建设需要的、新型的产业投融资体系。在明确油气管道投融资活动向市场化方向发展的基础上,项目融资模式应该采取BOT、TOT、ABS等三种模式。由于不同融资方式中,信息不对称的表现也有所不同,所以要采取不同的处理措施进行处理。

Study on Oil & Gas Pipeline Construction Financing Style

Since there is a great investment demand for oil & gas pipeline construction in China,how to ensure the efficient construction fund supply is becoming a serious problem.To ultimately solve the problem, the investing mode must be transformed from the monopolized investment into the marketed investment,a new type of adaptive financing system being established in the oil & gas pipeline construction.The marketed direction development is explicit for the financing activity in the pipeline construction.On this basis,project financing should be proceed by three modes: BOT,TOT and ABS.The different representations for information asymmetry under the different financing modes are also discussed.And taking BOT as an example,the corresponding settlement measures are given in this article.