China Targets 440 Million Metric Tons Oil Equivalent by 2030

China has set ambitious targets to boost its domestic oil and gas supply, aiming for 440 million metric tons of oil equivalent by 2030. This goal is part of the country's 15th Five-Year Plan (2026-30) for petroleum and natural gas development.

The plan outlines comprehensive strategic priorities for upstream exploration, midstream infrastructure connectivity, energy storage buffering, and decarbonization over the next five years. To strengthen domestic distribution networks, China will construct an additional 20,000 kilometers of long-distance oil and gas pipelines by 2030.

This infrastructure push will expand the nation's total network to 220,000 km, enhancing supply chain resilience. On the international front, China will diversify and secure its import channels, expanding liquefied natural gas receiving terminal unloading capacity to 200 million tons per annum.