China adopts a new five-year plan for fossil fuels

The 2026-2030 fossil fuel plan aims to strengthen security of supply against a backdrop of geopolitical uncertainty. It is built around three priorities. The plan provides for an increase in domestic oil and gas production over the period, with consumption peaking at 440 million tonnes of oil equivalent expected in 2030. The Chinese government intends in particular to focus on ultra-deep oil drilling (15 kilometres). It also provides for the development of overland import capacity, with 20,000 kilometres of gas and oil pipelines envisaged, and for an increase in liquefied natural gas storage capacity to 200 million tonnes by the end of the plan.