Why China Is Expanding Oil Drilling and LNG Capacity as Energy Security Risks Rise
5 Articles
5 Articles
PECHINO (CHINA) (XINHUA/ITALPRESS) "The domestic supply of oil and gas in China is expected to reach 440 million tons of oil equivalent by 2030, as part of a new five-year plan dedicated to the sector. This is reported on Monday by the National Energy Administration (NEA). The plan, published jointly by the NEA and the National Commission for Development and Reform, also sets the objective of adding 20,000 kilometers of long-distance pipelines a…
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.
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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