In China, by 2030, the volume of oil and gas production is expected to reach 440 million tons of oil equivalent according to a new five-year development plan presented by the National Energy Administration (NEA) and the National Development and Reform Commission (NDRC).
The plan also includes the construction of 20,000 km of main oil and gas pipelines by 2030. As a result, the total length of the country’s pipeline network will reach 220,000 km.
“Oil and gas are key sources of energy and industrial raw materials, and their supplies are directly related to China’s energy security and the well-being of its population,” states the NEA document.
The goal of the program is to create a modern oil and gas industry with stronger internal supply capabilities, more efficient pipeline networks, cleaner production, safer and more efficient operations, higher profitability in processing, and more diverse international cooperation.
Key challenges include increasing oil and gas exploration and production volumes, expanding infrastructure, increasing hydrocarbon reserves, deepening international cooperation, accelerating the “green” transition, developing new high-quality productive forces, promoting technological innovations, and deepening reforms in the oil and gas sector.
By 2025, China’s total oil and gas production reached a record 420 million tons of oil equivalent.
