NSE Seminar
 

Energy Security, State-owned Energy Corporations’ Overseas Acquisitions and Investment and Associated Financial Support from Chinese Policy Banks

 

Time: 13:30-15:30, March 24, 2017
Venue: Small Classroom, Wanzhong Building, NSD, PKU
Host: Yong, WANG、 Xin WANG、Jiajun, XU
Speaker: Zhongxiang ZHANG (Director, China Academy of Energy, Environmental and Industrial Economics and Distinguished University Professor，College of Management and Economics，Tianjin University，China)

【Abstract】

There are wide misconceptions and misunderstandings of the Chinese policy banks and their oil and natural gas-based loans as well as state-owned energy corporations’ acquisitions and investments in oil and gas fields overseas both inside and outside China. Against this background, this talk objectively and fairly discusses the controversies and queries surrounding the loan from Chinese policy banks, loan-for-oil and -gas deals, and overseas equity oil production of Chinese national oil corporations. It is emphasized that Chinese energy corporations will be confronted with complexities and uncertainties of overseas environment as well as the questioning of its mode when making overseas acquisitions and investment to achieve their ambition to grow and build global business. They should take full recognition of strategic risks and commercial logics of such overseas mergers and acquisitions and investment, put lot of work into improving details of operations and seek long-term development. The talk suggests that as the world’s fastest growing energy market, China should ponder deeply establishing Northeast Asian cooperative mechanism for strategic petroleum reserves and co-establishing East Asian natural gas trading hub.

 

【Speaker】

Zhongxiang Zhang is Director, China Academy of Energy, Environmental and Industrial Economics and a distinguished university professor at College of Management and Economics, Tianjin University, China. He is a Fellow of Asia and the Pacific Policy Society, Australia, and is serving as China Country Representative of the European Association of Environmental and Resource Economists, and on the Scientific Council of Paris-based IDDRI, Sciences Po. He was the 4th most cited scholar inside China in the field of economics, econometrics and finance in 2015 and 2016. He is co-editor of Environmental Economics and Policy Studies and International Journal of Public Policy; and is serving on the editorial boards of other ten international journals including Climate Policy; Energy Policy; International Environmental Agreements: Politics, Law and Economics, and International Review of Environmental and Resource Economics. He authored over 200 publications in English, and authored and edited 20 books and special issues of international journals. He has made the original contributions to a number of long-term goals and strategies that China is implementing, including the carbon intensity target for 2020, capping carbon emissions around 2030, and the establishment of the one belt one road initiative and the Asian Infrastructure Investment Bank.

For more information about the speaker, click here