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《Natural Gas Industry》 2012-08
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Case studies of natural gas price elasticity in Chengdu,Southwest China

Gao Qianhui1,Ye Zuoliang2,Dai Li3,Tan Chunyan4(1.Natural Gas Economics Research Institute,Southwest Oil & Gasfield Company,PetroChina,Chengdu,Sichuan 610051,China;2.School of Business Management,Southwest Financial University,Chengdu,Sichuan 610074,China;3.PetroChina Sichuan Sales Branch,Chengdu,Sichuan 610016,China;4.Middle Sichuan Oil and Gas Fields of Southwest Oil & Gasfield Company,PetroChina,Suining,Sichuan 629001,China)  
The price elasticity has an important impact on the decision making in the natural gas market.However,few systemic studies about that can be found in China.In view of this,based on the actual statistical data,the fluctuation of natural gas prices and changes in demand over the past 8 years in Chengdu,Southwest China,are analyzed.It is found that the price adjustment has effect on the demand in two ways: in the short run and in the long run.By use of econometrics,the arc elastics computation formula is adopted to get the price elasticity in the short term is 0.07-0.59 and that in the long term 2.29-2.58.Furthermore,compared with the related research results by the other scholars at home and abroad,the achieved results in this study show that the price elasticity does exist in the long run but not in the short run in the gas market in Chengdu which is similar to most other gas markets.In the end,this paper points out that the gas price elasticity can help balance the conflict between supply and demand in the market,but much attention should be paid to the potential risks.
【CateGory Index】: F224;F426.22
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