China's oil and gas dependence on foreign countries has far exceeded the highest level in the United States.

Aug 06, 2019

Currently, China is in the stage of heavy industrialization, which is expected to be fully realized by 2030.Developing into an industrialized country is not only an important economic component of realizing the "Chinese dream", but also an inevitable requirement for realizing the great rejuvenation of the Chinese nation. A large amount of energy consumption is a necessary condition for the successful completion of industrialization in developed countries. This means that China's economic development in the future will be largely dependent on energy, especially oil and gas. At present, China's external dependence on oil and gas is increasing, and the security of energy supply is facing challenges. At the same time, along with our country economy has increased, "One Belt And One Road" construction gradually thorough, the trend of the internationalization of the yuan steadily, in the United States has regarded as its main rival, continue to dominate the world, curb the rise of China and hinder the pace of the RMB to go global to become the inevitable strategic choice, Sino-Us trade friction will be normalized.

The negative development of energy forms in China and the United States will further widen the gap in overall national strength between China and the United States. At present, China's oil and gas dependence on foreign countries has far exceeded the highest level in the United States., therefore, must be over the total primary energy consumption constraint, energy efficiency, set up the total energy consumption "ceiling", in particular to one thousand to increase domestic oil and gas supply capacity, will improve the rate of oil and gas resources to ensure the level of China's economy is relatively independent, effectively restrain the excessive growth of external dependency, to control the import when international oil and gas market volatility doesn't cause within the scope of domestic economic volatility, especially natural gas, we must give full consideration to the regional external dependency and valley-to-peak, to ensure safe stable gas supply.

Increasing upstream exploration and development of natural gas is the main force of supply-side structural reform in the natural gas industry. At present, the exploration degree of natural gas in most basins in China is relatively low, with the exploration rate of conventional gas resources less than 20%, shale gas and coal bed methane resources less than 2%, and the exploration and development potential of natural gas is very large. We will give prominence to the three major areas of onshore deep water, Marine deep water and unconventional natural gas, increase investment in exploration and development, strengthen research and development of major theories and key technologies, improve policies for resource development, and implement plans for exploration and development based on scenarios for domestic gas supply.