China to step up oil, gas exploration to ease reliance on imports

2017-12-03
Xinhua

BEIJING — China will step up exploration for oil and gas and develop unconventional resources to ease the country’s reliance on imports, a research center said Dec 2.

By 2035, China is likely to keep the dependence rates on oil, gas imports within 70 percent and 50 percent, respectively, according to a strategic research center under the Ministry of Land and Resources.

The share of oil-gas in China’s primary energy structure would be 32 percent and 35 percent, respectively, by 2035 and 2050, the center said, predicting the ratio of oil consumption would peak at 2030.

China aims to increase domestic crude oil output to 200 million tons by 2020, while supply capacity for natural gas should exceed 360 billion cubic meters, according to the government’s industry plan.

Major tasks for the oil industry include accelerating exploration to ensure domestic oil supply, speeding up construction of pipeline networks and developing clean alternatives.