China has set new oil and gas targets for 2030 in its 15th Five-Year Plan, published on Monday. The plan sets new LNG import capacity, natural gas storage, and pipeline construction targets, including a new crude oil pipeline.
Targets for LNG, storage and pipelines
China published its 15th Five-Year Plan for the oil and gas sector on Monday, setting new targets for energy infrastructure through 2030. The plan calls for liquefied natural gas receiving capacity to reach 200 million tonnes per year by 2030.
Natural gas storage capacity is targeted to exceed 13% of national consumption by the same year. China also aims to reach onshore pipeline import capacity of 114 billion cubic metres per year by 2030.
New pipeline construction
The plan calls for advancing construction of the Hainan-Guangdong natural gas pipeline. It also includes accelerating construction of the Lianyungang-Yizheng crude oil pipeline and the Wen 23-Anqing natural gas pipeline, along with other natural gas pipelines and outbound pipelines from LNG receiving terminals, including those in Beihai.
The plan further supports connecting natural gas, coal-to-gas, and coalbed methane supplies to the national trunk pipeline network. This includes construction of the Zhundong coal-to-gas transmission pipeline and the Yuncheng-Sanmenxia pipeline.
Source: Investing.com
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