China unveils oil and gas targets in new five-year plan

China has unveiled its 15th Five-Year Plan for the oil and gas sector, setting ambitious targets for energy infrastructure development through 2030. The plan aims to increase liquefied natural gas (LNG) receiving capacity to 200 million tonnes per year, with natural gas storage capacity expected to exceed 13% of national consumption by the same date.

Additionally, China plans to expand its onshore pipeline imports to 114 billion cubic metres per year and is working on the Hainan-Guangdong natural gas pipeline, as well as other pipelines for natural gas, crude oil, and coal-to-gas conversion.

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