天然气涨疯了，A股燃气公司中报如何？

华尔街见闻2021-08-28

在通胀和碳中和等种因素和背景的叠加下，今年以来大宗商品涨势如虹，而天然气更是个中翘楚，成为了今年年内涨幅最大的大宗商品。据央视新闻，市场数据显示，过去一年里，亚洲的液化天然气价格暴涨近6倍；欧洲天然气涨幅更为惊人，7月份价格较去年5月份相比增长超过10倍；就连天然气资源丰富的美国也顶不住了，到8月18日，涨到了每百万英热单位4.2美元，是去年的2倍，日前气价已创下近10年来最高水平。天然气价格...

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hhyw
2021-08-29
hhyw
請點贊和回覆
sptang
2021-08-29
sptang
?
- sptang:
  ?
Diaschy86
2021-08-29
Diaschy86
加油
雨后就是彩虹
2021-08-29
雨后就是彩虹
666
- 雨后就是彩虹:
  555
一剑奈何
2021-08-28
一剑奈何
666
- 一剑奈何:
  666

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亿方，同比+30%；昆仑能源上半年零售气量120 亿方，同比+20%。\n\n具体到公司财务数据，单方气对应的 EBIT（税前息前利润）缩窄幅度明显小于毛差的缩窄幅度。\n主要城市燃气公司 2021H1 毛差变化情况（单位：亿方）：\n\n比如，新奥能源的天然气零售业务板块，单方气毛差从 2020H1 的 0.61 元/方下降到 2021H1 的 0.56 元/方，同比-0.05 元/方； 而单方气的 EBIT 水平从 0.30 元/方下降到 0.27 元/方，同比降幅 0.03 元/方，小于毛差的缩窄幅度。\n\nLGN 数据和未来成长性\n天风证券认为，对于燃气公司，应更重视其气量的成长性，而非价差波动。\n在 LGN 的数据和竞争力上：\n新奥股份托管了舟山 LNG 接收站，并获得了国家管网公司 LNG 接收站的窗口期使用权。该接收站上半年处理量 184 万吨，其中 52%液态出，全年目标 450 万吨。今年 Q2 二期建设完成后，预计2023 年处理能力达到 800 万吨。\n此外，公司正在申请三期扩能审批，有望在 2021 年底拿到核准，把舟山打造成东北亚 LNG 交易中心。\n昆仑能源拥有唐山和如东两个 LNG 进口终端，接卸能力均为 650 万吨。2021 上半年， 两个接收站平均负荷率高达 84%，同比大幅+18.6pct；LNG 气化量和装车量共 75 亿方，同比+28%。\n从昆仑能源公布的接收站使用率也可能看出，上半年 LNG 进口终端使用率大幅提升。此外，主要上市公司在中期业绩发布中，表示了对 LNG 气源的重视，包括对国家管网公司 LNG 接收站窗口期的重视，利用窗口期和其他多元化的 LNG 气源，也是未来燃气公司的布局方向。\n\n中国燃气虽然目前没有自营的 LNG 接收站。但其在业绩会上提出，国家管网公司窗口期合作，LNG 管道气串换探索。中燃是中海油最大的 LNG 分销商，在广东省成立 了合资公司，瞄准大湾区工业用户煤改气，目标是成为中国最大的 LNG 液态分销企业。 21/22 财年计划 450-500 万吨 LNG 销量。与国家管网公司合作，LNG 码头的窗口期，2021 年计划进口 LNG70-100 万吨。\n\n华润燃气2021 上半年，管道气采购占比 88.0%，同比上升 1.0 个百分点；LNG 采购占比 10.4%，同比下降 1.0 个百分点。窗口期采购国际 LNG1.6 亿方，优化气源采购成本。","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":813684760,"gmtCreate":1630198735450,"gmtModify":1676530240509,"author":{"id":"3561544476596136","authorId":"3561544476596136","name":"hhyw","avatar":"https://static.tigerbbs.com/62f8a12108672917c80685184f331b6f","vip":1,"crmLevel":4,"crmLevelSwitch":1,"idStr":"3561544476596136","authorIdStr":"3561544476596136"},"htmlText":"請點贊和回覆","listText":"請點贊和回覆","text":"請點贊和回覆","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/813684760","repostId":2162075282,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":813847047,"gmtCreate":1630192926989,"gmtModify":1676530238888,"author":{"id":"3552548580314246","authorId":"3552548580314246","name":"sptang","avatar":"https://static.tigerbbs.com/7bcf5804031a37b3f7e5a3b797aebd40","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3552548580314246","authorIdStr":"3552548580314246"},"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/813847047","repostId":2162075282,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5678648,"gmtCreate":1630192951425,"gmtModify":1663233042753,"authorId":3552548580314246,"author":{"id":3552548580314246,"idStr":"3552548580314246","authorId":3552548580314246,"name":"sptang","avatar":"https://static.tigerbbs.com/7bcf5804031a37b3f7e5a3b797aebd40","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary 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