Currency and its Impact on Pricing and Prospects for the Oil and Gas Industry in Asia

Proceedings of the External Challenges and Risks for Russia in the Context of the World Community’s Transition to Polycentrism: Economics, Finance and Business (ICEFB 2019) Pub Date : 2019-12-01 DOI:10.2991/icefb-19.2019.7

D. A. Abdullaev, Araz Mursaliev, A. V. Bondarenko, A. N. Ivanova

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Abstract

Nowadays Asia is undergoing large-scale transformations in the oil and gas industry. These transformations affect, in particular, the aspect of contract currency and currency risks in international energy trade. Despite the political background, there is a significant economic component in this process. The purpose of this article is to reveal it and give a general vision of the origin of hydrocarbon prices and the main pricing mechanisms in this area using the Asian market and cooperation between the Russian Federation and China as an example. The benefits of energy trading in national currencies and the main trends in the transition to settlements in national currencies in the field under study in ASEAN and in the multilateral RIC format are also evaluated. Keywords—Russia; China; energy; oil; gas; pricing; currency

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货币及其对亚洲油气行业定价和前景的影响

如今，亚洲正在经历油气行业的大规模变革。这些变化尤其影响到国际能源贸易中的合同货币和货币风险方面。尽管有政治背景，但在这一进程中有一个重要的经济因素。本文的目的是揭示它，并以亚洲市场和俄罗斯联邦与中国之间的合作为例，对碳氢化合物价格的起源和这一领域的主要定价机制给出一个总体的看法。还评估了以本国货币进行能源贸易的好处，以及在东盟和多边金砖国家模式研究的领域向以本国货币结算过渡的主要趋势。Keywords-Russia;中国;能源;油;气体;定价;货币

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Proceedings of the External Challenges and Risks for Russia in the Context of the World Community’s Transition to Polycentrism: Economics, Finance and Business (ICEFB 2019)

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