China Targets 440m Tons Oil Equivalent Domestic Supplies by 2030

China has unveiled plans to increase its domestic oil and gas supplies to 440 million tons of oil equivalent by 2030, while expanding its long-distance pipeline network by an additional 20,000 kilometers. This target is part of the country's 15th Five-Year Plan, which aims to establish a modern oil and gas supply system with a focus on energy security and green development.

The plan also includes targets for natural gas storage capacity, LNG terminal reception capacity, and overland pipeline import capacity. China's natural gas storage capacity is expected to exceed 13% of national consumption by 2030, while the country's LNG terminals are set to reach a reception capacity of 200 million tons per year.

Additionally, the plan aims to increase the localization rate of domestically manufactured equipment and advance digitalization and intelligent transformation in the sector. China's total oil and gas output reached 420 million tons of oil equivalent in 2025, with crude oil production hitting an all-time high of 216 million tons that year.

Lin Boqiang, director of the China Center for Energy Economics Research at Xiamen University, noted that China is increasing its reserve of oil and gas amid complex geopolitics. 'Geographically, we are short on oil and gas. But China has every confidence in facing its energy challenges,' he said.