Research And Evaluation On Oil And Gas Investment Environment In Central Asia Under The Belt And Road Initiative

With the rapid development of China’s economy has led to the continuous growth of energy demand,including oil and natural gas,and the contradiction between domestic energy supply and demand has become increasingly prominent.Under the background of the Chinese oil and gas enterprises began to explore overseas markets actively.The important strategic position and rich oil and gas resources in Central Asia have become the focus of oil and gas enterprises.In particular,the Belt and Road Initiative and the establishment of the Belt and Road energy partnership will encourage Chinese oil and gas companies to accelerate their investment in central Asia.Therefore,the study of oil and gas investment environment in Central Asia can provide a scientific and objective understanding of oil and gas investment situation in Central Asia,and give reference for Chinese oil and gas enterprises for overseas investment.At the same,it has important theoretical and practical significance in the evaluation method and regional study of oil and gas investment environment.Firstly,this paper introduces the background and research significance of the topic,and through the collection and sorting of domestic and foreign literature,determines the research content and research methods,and expounds related concepts and theories.Secondly,by defining the Central Asian region,the scope of research is clearly defined as Kazakhstan,Turkmenistan,Uzbekistan,Kyrgyzstan and Tajikistan,and this paper sorts out the investment environment of oil and gas in Central Asian countries and the investment activities of Chinese oil and gas enterprises in Central Asian countries.Thirdly,based on the analysis of the concept of oil and gas investment environment and the collation of investment activities of Chinese oil and gas enterprises in Central Asian countries under the belt and Road Initiative,this paper constructs the evaluation index system of oil and gas investment environment is constructed from six aspects: political environment,economic environment,social environment,oil and gas resources,policies and regulations and infrastructure.Fourth,by comparing the evaluation schemes,this paper uses entropy weight method and order relation method to calculate the weight of evaluation index and uses SVD model to study the oil and gas investment environment trends in Central Asian countries from 2014 to 2020 and analyzes the influencing factors.The analysis results show that Kazakhstan’s oil and gas investment environment is the best but declining trend.Turkmenistan and Uzbekistan have better oil and gas investment environment but there is still a gap compared with Kazakhstan,and the overall change was modest.The oil and gas investment environment in Kyrgyzstan and Tajikistan is poor,but the level of oil and gas investment environment in Kyrgyzstan increases year by year,while that in Tajikistan decreases sharply.Finally,according to the conclusions of the research,Chinese oil and gas enterprises can respond to the oil and gas investment environment in Central Asia by strengthening political risk management,adopting reasonable investment strategy,implementing localized investment strategy,comprehensively evaluating oil and gas reserves and consumption status,deeply studying oil and gas laws and policies,and promoting oil and gas industry and supporting facilities construction.