Why China Is Expanding Oil Drilling and LNG Capacity as Energy Security Risks Rise
4 Articles
4 Articles
China has announced its five-year plan for the oil and gas sector for 2030, in which it plans to increase crude oil extraction and expand its pipeline network, while also targeting the peak of its oil consumption.
Why China Is Expanding Oil Drilling and LNG Capacity as Energy Security Risks Rise
China's National Energy Administration and the National Development and Reform Commission jointly released a sector-specific five-year plan on Aug. 18, targeting 440 million tonnes of domestic oil and gas supply by 2030.
China eyes peak oil demand by 2030 amid pipeline increase, smart rig tech plan
China has announced a new dedicated five-year plan to drill more crude oil and expand its network of pipelines as the world’s largest importer of fossil fuels faces heightened supply risks from geopolitical tensions. The plan, unveiled on Monday by the National Development and Reform Commission and the National Energy Administration, called for natural gas storage capacity to exceed 13 per cent of national consumption by 2030. China also aimed t…
The Asian nation aims to strengthen its energy security and accelerate the transition to a low-carbon model by 2030, with a plan to increase its national oil and gas reserves, expand transport and storage infrastructure and develop new technologies.
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