China unveils oil and gas targets in new five-year plan
On Monday, China released its 15th Five-Year Plan for the oil and gas sector, unveiling ambitious targets for energy infrastructure development through 2030. Key objectives include increasing liquefied natural gas (LNG) receiving capacity to 200 million tonnes per year, expanding natural gas storage to surpass 13% of national consumption, and boosting onshore pipeline import capacity to 114 billion cubic meters annually.
The plan emphasizes progress on the Hainan-Guangdong natural gas pipeline, as well as accelerated construction of the Lianyungang-Yizheng crude oil pipeline and the Wen 23-Anqing natural gas pipeline, among other infrastructure projects. Additionally, it supports integrating natural gas, coal-to-gas, and coalbed methane supplies into the national trunk pipeline network, with projects like the Zhundong coal-to-gas transmission pipeline and the Yuncheng-Sanmenxia pipeline.
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