China Targets 440 Million Metric Tons in Domestic Oil and Gas Supply by 2030

China has outlined ambitious targets to boost its domestic oil and gas supply by 2030, aiming to raise it to 440 million metric tons of oil equivalent. The move is expected to substantially bolster national energy security while accelerating the sector's high-quality green transformation amid the construction of a modern energy system.

The 15th Five-Year Plan (2026-30) for petroleum and natural gas development, jointly issued by the National Development and Reform Commission and the National Energy Administration, sets forth comprehensive strategic priorities for upstream exploration, midstream infrastructure connectivity, strategic energy storage buffering, and decarbonization over the next five-year period.

The country will construct an additional 20,000 kilometers of long-distance oil and gas pipelines by 2030, expanding its total network to 220,000 km. This infrastructure push will enhance domestic supply chain resilience. On the international front, China will further diversify and secure its import channels, expanding liquefied natural gas receiving terminal unloading capacity to 200 million tons per annum.

Dai Jiaquan, chief economist at the China National Petroleum Corp Economics and Technology Research Institute, said that compared with the 14th Five-Year Plan (2021-25) period, the newly unveiled blueprint sets a tone of making steady progress while maintaining sector-wide stability. He emphasized that the policy framework firmly anchors two core strategic missions: safeguarding national energy security and accelerating green, low-carbon development.