Energy security of the People's Republic of China

rdf:langString Energy security of the People's Republic of China

rdf:langString Energy security of the People's Republic of China concerns the need for the People's Republic of China to guarantee itself and its industries long- term access to sufficient energy and raw materials. China has been endeavoring to sign international agreements and secure such supplies; its energy security involves the internal and foreign energy policy of China. Currently, China's energy portfolio consists mainly of domestic coal, oil and gas from domestic and foreign sources, and small quantities of uranium. China has also created a strategic petroleum reserve, to secure emergency supplies of oil for temporary price and supply disruptions. Chinese policy focuses on diversification to reduce oil imports, which used to rely almost exclusively on producers in the Middle East. Coal supplied most (about 58%) of China’s total energy consumption in 2019, down from 59% in2018. The second-largest fuel source was petroleum and other liquids, accounting for 20% ofthe country’s total energy consumption in 2019. Although China has diversified its energysupplies and cleaner burning fuels have replaced some coal and oil use in recent years,hydroelectric sources (8%), natural gas (8%), nuclear power (2%), and other renewables (nearly5%) accounted for relatively small but growing shares of China’s energy consumption. 4 TheChinese government intends to cap coal use to less than 58% of total primary energyconsumption by 2020 in an effort to curtail heavy air pollution that has affected certain areas ofthe country in recent years. According to China’s estimates, coal accounted for a little less than58% in 2019, which places the government within its goal. 5 Natural gas, nuclear power, andrenewable energy consumption have increased during the past few years to offset the drop incoal use. According to Professor Zha Daojiong, China's dependence on foreign sources of energy is not a threat to China's energy security, since the world energy market is not opposed to China's pursuit of growth and prosperity. The key issue is actually internal: growing internal consumption without energy efficiency threatens both China's growth and world oil markets. Chinese imports are a new determinant encouraging oil price rises on the world market, a concern to developed countries. The international community advocates a move toward energy efficiency and more transparency in China's quest for energy worldwide, to confirm China's responsibility as a member of the international community. Energy efficiency is the only way to avoid excessive Chinese demands on oil at the expense of industrialized and industrializing countries. International projects and technology transfers are ongoing, improving China's energy consumption and benefit the whole energy-importing world; this will also calm Western-Chinese diplomatic tensions. China is trying to establish long-term energy security by investment in oil and gas fields abroad and by diversifying its providers.