China to boost renewable energy and balance with oil and gas until 2025

  • China to maintain annual oil output at 200 million tons
  • Chinese gas production will reach 230 billion m3 by 2025
  • Increase in hydroelectric and nuclear production
  • 30 GW of coal-fired electricity to be phased out in 2021-2025

BEIJING, March 22 (Reuters) – China aims to increase renewable energy, maintain crude oil production and boost natural gas production, while seeking to balance energy security and meet its energy targets. climate change.

China, the world’s biggest emitter of greenhouse gases, said its carbon emissions would peak by 2030, while it said it would reach carbon neutrality by 2060.

“We will speed up the adjustment of the energy structure and promote energy supply security and low-carbon transformation at the same time,” the National Development and Reform Commission said in a statement on Tuesday.

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China will maintain its annual crude oil production at 200 million tons and increase its annual natural gas production to more than 230 billion cubic meters (bcm) by 2025.

He said the country will “actively expand” the exploration and development of resources such as shale oil and gas, and seek to establish coal bed methane production bases in the regions of Inner Mongolia, Xinjiang and from Shanxi.

China also planned to reach a gas storage capacity of 55-60 billion m3, or 13% of total annual consumption by 2025, and complete a southward extension of the existing China-Russia gas pipeline, the commission said.

Beijing would encourage the development of ethanol, biodiesel and biofuel, as long as it did not affect food security, he said.

China has suspended a national gasoline blending plan to have 10% ethanol from 2020 after a sharp drop in the country’s corn stocks and limited biofuel production capacity.

China aims to have non-fossil fuels account for about a fifth of total energy consumption by 2025, up from 16% in 2020, and to control the use of coal in heavy industry, including iron and steel, chemicals and cement.

About 30 gigawatts (GW) of coal-fired power capacity would be phased out between 2021 and 2025, as it aimed to boost hydropower capacity to 380 GW and nuclear capacity to 70 GW by 2025, he said. .

China plans to install at least 62 GW of pumped hydropower capacity, a system that pumps water to an upper reservoir during off-peak hours to generate electricity at peak times.

It also aims to convert more than 200 GW of coal-fired power plants into peak-shaving facilities that are used to stabilize grid operation as the use of intermittent renewable energy increases.

China also wants to roll out a batch of hydrogen power projects, targeting technologies to improve hydrogen storage, transportation, application and fuel cells.

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Reporting by Muyu Xu and Chen Aizhu; Editing by Kirsten Donovan and Edmund Blair

Our standards: The Thomson Reuters Trust Principles.

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