The significant progress achieved in energy cooperation along the "Belt and Road" route has provided a strategic opportunity for promoting the energy finance market. In line with the trend of global energy transformation and international energy pattern adjustment, to promote the formation of a more inclusive regional international energy trade system, accelerating the internationalization of the RMB. Using the launch of Shanghai crude oil futures as an opportunity, we will actively develop the energy finance derivatives market of oil, natural gas and other commodities, thus enhancing China's ability to obtain the value at the high-end segment of the global energy industry chain.

Energy trade is the barometer of global trade in goods and plays an integral role international trade. As an important part of the implementation of the "Belt and Road" Initiative, multilateral partnership in energy trade is one of the most cooperative and promising areas for the countries along the "Belt and Road". Since the implementation of the initiative five years ago, cooperation in energy trade between China and the countries along the "Belt and Road" has been deepening. This development not only benefits the energy producers, energy consumers and energy corridors, but it also elevates China's influence and leadership in the regional energy market, contributing to the construction of a new international energy order.

This paper reviews the history of cooperation in overseas oil and gas among Chinese oil companies and selects two indicators of production and initial planned investment to systematically review and analyze in depth the overseas cooperation process of Chinese oil companies. Based on the analysis of produced quantities (entitlement), it summarizes the current situation, scale and pattern of Chinese enterprises' overseas business. Based on the analysis of the initial planned investment, it summarizes the five stages in the development of overseas cooperation and the development characteristics of each stage.

 

 

 

The "Belt and Road Initiative" was proposed by China in order to deepen international cooperation. The promotion of this initiative will have a positive and far-reaching impact on the sustainable development of China's economy. Energy cooperation has become an important part of China's opening up to the outside world. It is of great significance in safeguarding national security, ensuring stable supply of energy, improving China's rights of speech in international energy markets, and helping China's energy companies to "go global". So far, energy cooperation along the Belt and Road has achieved a good start. Oil and gas companies such as CNPC and Sinopec have moved very fast in overseas cooperation, and new energy companies are actively following up. In order to achieve practical results in China's energy cooperation, this paper analyzesseveral problems and puts forward policy proposals.

Based on the analysis that the oil and gas cooperation is facing new situation under the background of the Belt and Road Initiative, this paper discusses the status quo of oil and gas pipeline construction in China. It's pointed out that the four major transnational strategic oil and gas corridors in the northwest, northeast, southwest and the eastern offshore areas of China have been formed. By the end of 2017, China's transport capacity for onshore oil and gas import had reached 73 million tons and 89 billion cubic meters respectively, and the oil handling capacity and liquefied gas (LNG) receiving capacity of coastal terminals had reached 600 million tons and 64.40 million tons respectively. The paper forecasts the future development trend of oil and gas corridor construction in China, and puts forward the following relevant suggestions:the international oil and gas trade shall be further developed to form a diversified and balanced import system; the offshore oil and gas development strategies shall be formulated at national level to lay the foundation for sharing and utilizing overseas oil and gas resources; the comprehensive and multi-functional synergic security system shall be established to safeguard the energy import and energy corridors; the oil and gas security forecasting and early warning mechanism shall be improved to form hierarchical and multilevel early warning and emergency response measures.

Energy trade is the barometer of global trade in goods and plays an integral role international trade. As an important part of the implementation of the Belt and Road Initiative, multilateral partnership in energy trade is one of the most cooperative and promising areas for the countries along the Belt and Road. Since the implementation of the initiative five years ago, cooperation in energy trade between China and the countries along the Belt and Road has been deepening. This development not only benefits the energy producers, energy consumers and energy corridors, but it also elevates China's influence and leadership in the regional energy market, contributing to the construction of a new international energy order.

The comprehensive promotion of the B&R has promised improved regional cooperation between Chinese oil and gas enterprises and Central Asia. Based on the cooperation patterns of Chinese oil and gas enterprises in Central Asia, this paper focuses on the business cooperation patterns, points out the strategic significance of such patterns in particular geography, and analyzes the prospects of such cooperation. Innovative optimization designs are developed, and innovative cooperation patterns are put forth based on the existing operation and cooperation patterns. By leveraging on the B&R, China's strategies concerning the energy of Central Asian areas shall be elevated, and an increasing number of energy enterprises will cooperate with Central Asia.