After $468 Billion in Investments, China Enters a New Gas Era

China is gearing up for record natural gas production of 300 billion cubic meters by 2030, accelerating the development of its modern oil and gas industry.

Since 2019, the country has already invested a massive $468 billion in drilling and exploration to curb its reliance on foreign energy supplies.

Under its 14th Five-Year Plan, China has added 7 billion tons of proven geological oil reserves and 7 trillion cubic meters of natural gas — an increase of more than 40% compared with the previous period.

For 2026–2030, Beijing expects annual gas output growth to remain above 10 billion cubic meters, while gradually “greening” its overall energy mix.

 

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Source: segabg.com