The Equivalent for this feature in Windows Azure is called Shared Access Signature. Media Services does support creating of SAS Origin Locators.
You can read the official documentation on how to create SAS Locator with .NET SDK.
Or you can check my project on GitHub and the Locators implementation in particular
A Code sample for generating SAS Locator for particular asset follows:
public string GetSasLocator(IAsset asset)
{
// Create an 1-day readonly access policy.
IAccessPolicy streamingPolicy = this.MediaService.MediaContext.AccessPolicies.Create("Full Access Policy",
TimeSpan.FromMinutes(20),
AccessPermissions.List | AccessPermissions.Read | AccessPermissions.Read);
// Create the origin locator. Set the start time as 5 minutes
// before the present so that the locator can be accessed immediately
// if there is clock skew between the client and server.
ILocator sasLocator =
(from l in this.MediaService.MediaContext.Locators
where l.Type == LocatorType.Sas && l.AssetId.Equals(asset.Id)
select l).FirstOrDefault();
if (sasLocator != null && sasLocator.ExpirationDateTime < DateTime.UtcNow)
{
sasLocator.Delete();
sasLocator = null;
}
if (sasLocator == null)
{
sasLocator = this.MediaService.MediaContext
.Locators.CreateSasLocator(asset,
streamingPolicy,
DateTime.UtcNow.AddMinutes(-5));
}
// Create a full URL to the manifest file. Use this for playback
// in streaming media clients.
string sasUrl = sasLocator.Path;
// Display the full URL to the streaming manifest file.
Console.WriteLine("URL to for blob upload: ");
Console.WriteLine(sasUrl);
return sasUrl;
}