China Aims for 440 Million Tonnes of Oil Equivalent in Domestic Supplies by 2030

China has set ambitious targets for its oil and gas supplies by 2030. According to the country's 15th Five-Year Plan, domestic oil and gas supplies are expected to reach 440 million tons of oil equivalent by 2030. This goal is part of a broader effort to increase energy security and reduce emissions.

The plan includes exploration in the upstream sector, infrastructure development, strategic energy storage, and emission reductions. Specifically, China aims to build an additional 20,000 kilometers of long-distance oil and gas pipelines by 2030, bringing the total pipeline network to 220,000 kilometers.

On the import side, the capacity for unloading terminals for liquefied natural gas (LNG) is targeted to reach 200 million tons per year. Meanwhile, imports through cross-border land pipelines are estimated to reach 114 billion cubic meters per year.