• International Commerce and Information Review
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• v.13 no.3
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• pp.119-142
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• 2011

Competitions for secure oil are intense around the world due to the limited oil reserves. The situations are becoming more serious as China has participated in the competition. This paper aims to investigate China's offshore oil development strategies to balance the supply and demand of oil and then suggest its policy implications. A surging increase of oil demand due to the rapid economic growth as well as the stagnation in domestic oil output has turned China into a net oil importer since 1993. Therefore, China has placed a significant priority on securing long-term stability of its offshore oil to cope with the rapid growing demand. It has taken a variety of strategies to secure stable oil resource such as development of offshore oil resource, increasing the number of oil importing countries. China with the highest foreign exchange reserve of approximately $3 trillion as of 2010, has considered to employ foreign exchange reserves while making a huge amount of investment to secure oil resource. China has pursued several policies such as loan to oil production country for securing oil, foreign direct investment on offshore oil development, M&A of oil exploration and production companies and geographical diversification of oil importing countries. China has promoted offensive strategies for securing oil resource rather than cooperation with other countries. Thus, China should find a trade-off point for recovering relationship with international society while developing and investing renewable energy for long-term future. It will also address some implications for Korea, which has to prepare new strategies of overseas oil development.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.19 no.2
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• pp.187-192
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• 2019

Hybrid power storage system with emergency power function for demand management and power outage minimizes the investment cost in the building of buildings and factories requiring emergency power generation facilities, We propose a new business model by developing technology that can secure economical efficiency by reducing power cost at all times. Normally, system power is supplied to load through STS (Static Transfer Switch), and PCS is connected to system in parallel to perform demand management. In order to efficiently operate the electric power through demand forecasting, the EMS issues a charge / discharge command to the ESS as a PMS (Power Management System), and the PMS transmits the command to the PCS controller to operate the system. During the power outage, the STS is rapidly disengaged from the system, and the PCS becomes an independent power supply and can supply constant voltage / constant frequency power to the load side. Therefore, it is possible to secure reliability through verification of actual system linkage and independent operation performance of hybrid ESS, By enabling low-carbon green growth technology to operate in conjunction with an efficient grid, it is possible to improve irregular power quality and contribute to peak load by generating renewable energy through ESS linkage. In addition, the ESS is replacing the frequency follow-up reserve, which is currently under the charge of coal-fired power generation, and thus it is anticipated that the operation cost of the LNG generator with high fuel cost can be reduced.