Abstract: The Lower Cambrian Longwangmiao Formation is the main gas production formation of the Anyue giant gas field and its reservoir characteristics are very important for hydrocarbon exploration and development. Based on analyzing the lithology and type of the Longwangmiao Formation reservoirs under different productivity conditions, as well as the thickness ratio and pore development of different types of reservoirs in the Anyue gas field, this paper establishes the relationships between reservoir characteristics and hydrocarbon productivity in high-productivity, medium-productivity and low-productivity wells as well as dry wells. The results show that the Longwangmiao Formation reservoirs are mainly developed in granular dolomite and crystalline dolomite intervals. The reservoir spaces contain solution vug, intergranular dissolved pore, intercrystalline dissolved pore, and fracture. Vug and pore are the main types. The vug-type reservoir is dominant for high productivity wells in Longwangmiao Formation of the Anyue gas field, and its proportion, vug density, vug size, single layer thickness and cumulative thickness of the vuggy section are the main factors affecting hydrocarbon productivity. The vug-type reservoir has strong heterogeneity, and the vug size shows a bimodal distribution, corresponding to large-size (millimeter and micron scale) vugs and small (nanoscale) intercrystalline pores and intercrystalline dissolved pores. The pore-type reservoir exhibits a uniform pore distribution and a unimodal pore size distribution dominated by micron-scale pores.