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2017-07-17 14:10:00

CHINA'S ENERGY DEMAND UP

CHINA'S ENERGY DEMAND UP

SHANGHAIDAILY - CHINA will accelerate expanding oil and gas distribution in the next decade to ensure energy security and help boost industry, its top economic and energy planners said.

The nation will have an oil and gas distribution network as long as 240,000 kilometers by 2025, up from 112,000 km at the end of 2015, according to a plan by the National Development and Reform Commission and the National Energy Administration.

Despite great achievements over recent years, China needs to accelerate increasing its energy distribution to support surging demand.

Focus will be on the northeast, northwest and southwest regions, which lack tunnels to export oil and gas.

The nation will also speed up digitizing the networks to ensure maintenance of the tunnels, helped by more advanced information technology.

China expects to improve energy supply and transport self-sufficiency in the next decade and will upgrade equipment to help it better deal with natural disasters.

Upgrading the energy transport system will also boost the heavy machinery industry and engineering industries.

The developing energy network will cover the country. Oil channels will reach cities with more than 1 million residents and the gas network will cover those with at least 500,000 by 2025. Officials also set a mid-term target for the network to reach 169,000 km by 2020. Natural gas will be given higher priority for development.

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Earlier: 

RUSSIAN GAS FOR CHINA 

AUSTRALIA - CHINA LNG UP 

CHINA'S RENEWABLE INVESTMENT: $368 BLN 

CHINA: THE TOP BUYER ANEW 

CHINA'S OIL & GAS REFORM 

SOUTH CHINA SEA GAS 

CHINA'S GLOBAL ENERGY

 

 

 

Tags: CHINA, OIL, GAS, ENERGY, DEMAND

Chronicle:

CHINA'S ENERGY DEMAND UP
2018, June, 22, 13:10:00

THE LARGEST VENEZUELA'S OIL

U.S. EIA - Venezuela holds the largest oil reserves in the world, in large part because of the heavy oil reserves in the Orinoco Oil Basin. In addition to oil reserves, Venezuela has sizeable natural gas reserves, although the development of natural gas lags significantly behind that of oil. However, in the wake of political and economic instability in the country, crude oil production has dramatically decreased, reaching a multi-decades low in mid-2018.

CHINA'S ENERGY DEMAND UP
2018, June, 22, 13:05:00

U.S. DEFICIT UP FROM $116.1 BLN TO $124.1 BLN

U.S. BEA - The U.S. current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5 percent of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4 percent in the fourth quarter.

CHINA'S ENERGY DEMAND UP
2018, June, 22, 13:00:00

EUROPE'S NUCLEAR INVESTMENT : €50 BLN

WNN - There are 126 operational power reactors in 14 EU Member States, providing more than one-quarter of the bloc's total electricity production. In its Communication on the Nuclear Illustrative Program (PINC) published last year, the European Commission expects nuclear to maintain its significant role in Europe's energy mix up to 2050. This would require investment of some EUR40-50 billion (USD46-58 billion) in nuclear LTO by 2050.

CHINA'S ENERGY DEMAND UP
2018, June, 20, 13:15:00

OIL PRICE: ABOVE $75

REUTERS - Benchmark Brent crude LCOc1 was up 50 cents at $75.58 a barrel by 0835 GMT. U.S. light crude CLc1 was 50 cents higher at $65.57.

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