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China Reportedly Targets 440 Million mt of Oil, Gas Supply by 2030

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China plans to boost domestic oil and gas supply to 440 million metric tons of oil equivalent and expand its long-distance pipeline network, multiple news outlets reported, citing a government plan released Monday.

The 15th Five-Year Plan for Petroleum and Natural Gas Development, covering 2026-30 and jointly issued by the National Development and Reform Commission and the National Energy Administration, sets targets for production, pipelines, storage, imports and emissions reduction.

The plan seeks to strengthen energy security and advance the sector's low-carbon transition.

China plans to build 20,000 kilometers of long-distance oil and gas pipelines by 2030, bringing the total network to 220,000 km, according to the plan.

It also aims to expand natural gas storage capacity to over 13% of annual gas consumption.

The unloading capacity of liquefied natural gas receiving terminals is targeted at 200 million mt per year by 2030, while import capacity through onshore natural gas pipelines is expected to reach 114 billion cubic meters annually.

The plan calls for advancing construction of the Hainan-Guangdong natural gas pipeline and accelerating work on the Lianyungang-Yizheng crude oil pipeline and the Wen 23-Anqing natural gas pipeline, as well as other gas pipelines and outbound pipelines from LNG receiving terminals, including those in Beihai, Reuters reported.

The Chinese State Council Information Office did not immediately respond to a request for comment from.

The plan also targets an annual carbon dioxide injection volume of 10 million mt by 2030 through carbon capture and storage and carbon capture, utilization and storage projects, supporting China's broader push to strengthen energy security while reducing emissions.

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