Two years after China’s government first gave the nod for large-scale users to negotiate gas supply directly with midstream suppliers, the policy has had little impact on the country’s gas market, with various players blaming each other for the deadlock.
Beijing first outlined the policy in February 2015 during a round of reforms to gas pricing, and reiterated it in November 2015, when gas tariffs were last cut. Policymakers had intended that the market-oriented model would reduce end-user costs and accelerate gas pricing...
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