【出版时间及名称】：2010年1月中国城市天然气运营行业研究报告
        【作者】：野村证券
        【文件格式】：pdf
        【页数】：60
        【目录或简介】：

Contents
Easing supply bottleneck from 2010F 3
Robust demand over next three years, despite tariff hike 4
Gas flows from multiple sources 5
Who will benefit more from improved gas supply? 7
Supply may outpace demand beyond 2015F 8
Wellhead price increase can be passed on 9
No gas pricing adjustment in 2009: positive to downstream 9
Gas pricing reform likely in 1Q10F 9
New connections look strong in 2010F 10
Amortisation of connection fees unlikely to be rolled over to whole country 11
Competitive landscape is changing 12
Cooperation to prevail over competition in near term 12
CR Gas has an edge in landing new projects 13
Consolidation inevitable in longer term 13
Adverse effects of cold winter 15
Gas shortage weighing on gas volumes/margins for FY09F and 1Q10F 15
BUY CR Gas and Xinao Gas 16
Operational comparison 18
Latest company views
China Resources Gas 21
Xinao Gas Holdings 32
China Gas 39
Towngas China 50