China unveils domestic oil, gas buildout strategy

China has unveiled a strategic plan for its oil and gas sector through 2030, setting targets for a broad expansion of domestic production, pipeline infrastructure and storage capacity, reports Caixin. This comes as Beijing seeks to bolster energy security.

The blueprint highlights two priorities: reducing exposure to global supply disruptions, sharpened by recent conflict in the Middle East, while preparing for a peak in oil consumption and a gradual integration of lower-carbon alternatives.

China’s National Development and Reform Commission on Monday released the 15th Five-Year Plan for Oil and Gas Development. By 2030, authorities aim to raise domestic oil and gas supply to 440 million tons of oil equivalent and add 20,000 kilometers of long-distance pipelines, bringing the national total to 220,000 kilometers.