China will continue to enhance energy supply, reserves and price stability in 2023, according to the National Development and Reform Commission.
The country's energy security is guaranteed as its self-sufficiency rate in energy sector has maintained above 80% in recent years, said the economic planner at a press conference on March 6.
This is in stark contrast with energy supply crisis and sharply rising prices in global countries.
The domestic crude oil production recovered to 205 million tonnes in 2022, and natural gas output increased by more than 10 billion m3 for six years in a row, reaching 220.1 billion m3 last year.
By end-2022, installed power generating capacity had hit 2.56 TW in China, comprising over 1.2 TW of renewable energy capacity. The addition of wind and photovoltaic power capacity has exceeded 100 GW for three consecutive years.
Facing complex international energy supply and demand situation and steady growth of domestic energy demand, China will continue to boost energy production and raise power supply.
Large wind and photovoltaic power bases will be constructed in deserts and Gobi areas, with necessary backup and peak-regulating power sources to be installed so as to lift effective power load.
While advancing oil and gas exploration, China plans to continue stabilizing coal production and promote its use in more clean and efficient ways.
In terms of energy reserves, China will increase coal reserve capacity and build a stable and efficient system for oil and gas storage.
Meanwhile, coal prices will be particularly monitored and supervised to keep power and energy prices stable.
The energy need for people's livelihood is put on the top agenda of the government work. Coal demand for power generation and heating companies as well as gas consumption for people's living are completely covered by long-term supply contracts.
Coal, natural gas, electric power and refined oil products will coordinate and complement each other to increase energy supply capacity during peak demand periods.
(Writing by Shengnan Liu Editing by Tammy Yang)
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